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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, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
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