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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, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
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