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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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Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
Tuesday, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
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- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
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