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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.
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Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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Showing 3816 to 3820 news of total 6871 |
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- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- White Energy Company Limited
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
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