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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
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- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- The University of Queensland
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Australian Coal Association
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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