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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, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Parliament of New Zealand
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
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