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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, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Planning Commission, India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
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