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Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
 As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see how last year ended and what shall we expect for the months ahead...
What a great finish for the year it has been for bulkers, with the BDI reaching the highest level since 2010 at 2,337 points by mid-December, with Capes reaching just over the 40,000 USD/day-mark; smaller classes did not fare that well, but definitely better than during the anemic 1st half of the year.
What happened since then? We have seen the indices retreating heavily during the holidays, with the BDI losing around 1,000 points, bottoming out at 1,370 points, having only just returned to positive territory with Capes leading the way after the difficulties they faced earlier in the month.
Sentiment remains strong within the dry sector, with expectations of better times ahead, due to a slower rate in new building deliveries and improved prospects for global economic growth, according to the latest growth revisions by the World Bank...Is this the full story though??
China's economic growth continues to cool; China will manage to pass the official target of 7.5% growth for 2013 as a whole, but at the same time this is its lowest figure for any year since at least 1999, as per the Financial Times.
The United States, on the side of the Atlantic, while still struggling to overpass the so-called 'fiscal gap', do not seem strong enough to be able to provide world trade with the necessary support, fact that one sees by just looking at the levels freight rates container vessels have reached.
Last but not least, Europe remains as always romantic, focusing on President Hollande’s personal affairs, while at the same time austerity imposed by the North is still suffocating the South and while all appears to be working perfect in theory, the truth is that austerity measures and lack of bank financing are still placing a lot of pressure on the more fragile economies such as the Greek one.
And then you have the supertankers, waking up from their long hibernation whilst being in the mid-winter season, now commanding rates in excess of USD 100,000 per day despite having been in the doldrums for most part of 2012 and 2013...
The fundamentals are simply not there yet, but this doesn’t seem to deter Owners who seem as if they simply don’t care and trying to enjoy as much as they can from this unexpected scoop!
So, what’s next? What will the Year of the Horse bring for shipping? Who will be this year’s Horse Whisperer? Enjoy the ride... but beware of the obstacles.
- by George Bassakos, SnP Broker -
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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Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
Tuesday, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- The University of Queensland
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
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