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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
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