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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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Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
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