We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
 By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another school year, the shipping community – at least the Cape folks for now - is looking back on the year to date facts with some renewed enthusiasm for the year to come.
The BDI has moved to levels considerably stronger than the beginning of the year lows of 698 points and currently stands at 1,165 points ( after peaking at 1,179 points on July 1st – the year's high so far), mainly boosted by strengthened Capesize rates, which have increased 3-fold since the beginning of 2013. It will be interesting to see if the market leading index will be able to break the strong-resistance level of 1,200 points or not. Gains in smaller sectors have been more modest, all segments though currently earn above their respective daily OPEX.
Cape rates have been mainly driven by renewed iron ore activity to China, whilst strikes in Colombia and port congestions, pushed spot rates in levels last seen in November 2012. It is interesting that this latest surge came earlier this year, in the traditional summer lull, and not during the always more active Q4.
FFAs are pointing to a sustained growth during Q4, with Capes currently climbing close to $ 22,000/day, Panamaxes at below $ 10,000/day, Supras at excess of $ 10,000/day and smaller Handies at around $ 8,000/day. The next calendar year does not currently signal an impressive recovery, even though many analysts forecasted a more steep market improvement than the one painted by Baltic figures. Panamaxes have replicated last year's performance up to this point, while Supras and Handies have been better performers, compared to their bigger counterpart, proving their flexibility to adjust to volatile market conditions in the seaborne world trade.
SnP wise, it has been an interesting year thus far, with Greeks having a strong presence in both the second hand and the new building market. Japanese owned second-hand tonnage has proven particularly attractive for Greek buyers, who appear to be willing to pay a premium on the “last done”, even though rates have not been supportive of such a buying rush at this stage yet... New building activity has already surpassed last year's levels in most segments - mainly driven by owners' appetite for eco ships, but also by lower quoted prices, which have only recently started moving north again. Scrapping on the other hand has underperformed massively.
So, what's ahead? In Greece, we tend to change our educational system so often that students sometimes are not familiar with the new academic year's syllabus. Are we in face with a similar situation here? Well, the sentiment is more positive as of late and it seems that we won’t be moving in uncharted waters this time. It remains to see if the good captain will lead us to a safer port, i.e. improved/healthy market activity, or back to Scylla and Charybdis, i.e. uncertainties surrounding the global economy, China's slowing growth, capital exit from emerging markets, anemic growth in Europe, tonnage overcapacity etc. etc.
Chartering
Things were a bit more bright for VL owners this past week and in today’s market this simply means that further declines were avoided. Despite the fact that WS levels remained unchanged, activity e-Meg did manage to pick up significantly compared to the week before but, as always, there is still enough tonnage available to meet current requirements and deny any significant rate increases.
Rates for Suezmaes continued to slide further this week and despite the fact that the list of ballasters in the MG region isn't that long, fixing interest has significantly dropped. Most of the pain was nevertheless felt on fixtures e-WA. After some weeks of strong performance, the rate for the WA/USG voyage fell down to WS 52.5, while the TEC returned to the level below $ 10,000/day.
Afra rates continue to ignore the overall sluggishness of the crude oil carriers market. The firm number of enquiries in the Black Sea/Med region towards the end of the week has pushed the TCE in the area more than 35% up, while the big star of the week was no other than the north Sea/Baltic region where limited tonnage helped rates surge.
Chartering (Wet: Stable+ / Dry: Firm+)
With a lot of help from Capes, the Dry Bulk market has firmed further this past week. The big bulkers have once more pushed the BDI higher and the market looks ready to test new highs for the year once more. The BDI closed today (27/08/2013) at 1169 points, up by 4 points compared to Friday’s levels (23/08/2013) and an increase of 24 points compared to previous Tuesday’s levels (20/08/2013). Rates for Afras continue to win further ground mainly due to North Sea activity, while the recent Suezmax rate surge already feels like a distant memory as rates for the segment plummeted this week. The BDTI Friday (23/08/2013), was at 658 points, an increase of 14 points and the BCTI at 591, an increase of 39 points compared to the previous Friday’s levels (16/08/2013).
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
|
|
|
Showing 4166 to 4170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
|
| |
| |
|
