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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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Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
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- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
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