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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, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
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- MS Steel International - UAE
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
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