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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Australian Coal Association
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
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