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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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Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
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- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
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