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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
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- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
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