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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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Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Australian Coal Association
- GMR Energy Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Planning Commission, India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
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