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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
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