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Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size segments holding on to their levels and those for Capes correcting upwards, while the spill-overs of the improved sentiment have yet to affect the Panamax market. The BDI closed today (25/02/2014) at 1,197 points, up by 23 points compared to yesterday’s levels (24/02/2014) and an increase of 51 points compared to previous Tuesday’s closing (18/02/2014). Rates for VLs stalled a bit as charterers took their time with the March schedule, while the rest of the crude carriers market enjoyed improvements positionally. The BDTI Monday (24/02/2014), was at 753 points, a decrease of 49 points and the BCTI at 606, an increase of 10 points compared to the previous Monday (17/02/2014).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
SnP activity has slowed down slightly this week, but at the same time second-hand prices remain on the rise while there is still plenty of buying interest to be found in the market. On the tankers side, we had the sale of the NICHIHIKO” (281,705dwt-blt 99, Japan), which was reported sold to Chinese buyer for a price of US$ 25.2m. On the dry bulker side, we had the sale of the “TRITON STORK” (56,024dwt-blt 04, Japan), which was also picked for a price of xs US$ 21.0m.
New building (Wet: Stable+ / Dry: Stable+)
Following a couple of weeks of stalling, newbuilding prices are on the rise again. With the average prices for all segments in the dry bulker and tanker sectors standing well above the average of both 2013 and 2012, it is interesting to make a couple of comparisons to the last time prices had reached these levels. Looking at Capes, the last time a new building was quoted at $ 56.0m was in January of 2011 when the average freight rate for the segment stood at around $ 10,000/day, almost identical to where it stands today. The last time a VL new building required $ 98.5m was around the end of 2011 when the average rate was in the $ 35,000/day region, which also coincides to today's levels. In hindsight, prices back then proved overinflated to the performance of the market but hopefully fundamentals are stronger this time around as the direction of the market has been upwards and not downwards as it was back in 2011 and two years down the line we won’t be looking back in 2014 as another time of over-excitement. In terms of new orders, Awilco AS has placed an order for two VLCCs (320,000dwt) at Daewoo, in S. Korea, for a price of $ 97.0m each and delivery set in 2016.
Demolition (Wet: Stable- / Dry: Stable-)
The demolition market is still reigned by Indian breakers, who currently appear to have ousted the rest of the competition from the race of securing demo candidates. As a matter of fact, with the exception of a couple of vessels, the rest of the deals reported this past week appear to have ended up in Indian hands. Breakers in the country have been enjoying the stability of the local currency, which posted its biggest winning streak against the US Dollar in the past couple of months after strengthening for three days in a row to this morning. At the time domestic steel mills have been preparing for another price hike, fact which offers further assertion to breakers operating in the country that their bids have been moving towards the right direction. While Bangladesh has managed to keep its prices stable, China and Pakistan appear to have no intention to compete at these high levels, with the former allowing for the gap between themselves and India to climb to over 120 $/ldt. Average prices this week for wet tonnage were at around 340-470$/ldt and dry units received about 330-460$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
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- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
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