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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.
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Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
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