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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 higher, while Panamaxes are still struggling with unfavourable dynamics in both basins. The BDI closed today (04/03/2014) at 1,1325 points, up by 49 points compared to yesterday’s levels (23/03/2014) and an increase of 128 points compared to previous Tuesday’s closing (25/02/2014). Rates for VLs lost further ground this past week but firm volumes of activity have prevented the market from noting bigger declines, while the rate for the WAF/USAC voyage almost doubled in TCE terms after hovering around levels close to barely covering OPEX during the past couple of weeks. The BDTI Monday (03/03/2014), was at 717 points, a decrease of 36 points and the BCTI at 627, an increase of 21 points compared to the previous Monday (24/02/2014).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
SnP activity has slowed down further this week, with Panamax and Supramax tonnage monopolizing dry bulker sales. With the freight market moving sideways, it seems that potential buyers might need a bit more convincing before placing their bids. On the tankers side, we had the sale of the “KIM JACOB” (159,211dwt-blt 98, S. Korea), which was reported sold to Greek buyers for a price of US$ 14.5m. On the dry bulker side, we had the sale of the “WHITE HALO” (55,830dwt-blt 12, Japan), which was picked by Greek buyers for a price of US$ 30.0m.
New building (Wet: Stable+ / Dry: Stable+)
With newbuilding prices having quickly risen during the past year and slots being take up fairly swift for 2016 delivery, it looks as though we may have an eager rush for securing part of what appears to be limited shipbuilding capacity. The fears shared by many in the industry continue to be that this might escalate into yet another over exaggerated order book if the freight market doesn’t follow. Saying that, things continued to cool off this week, with the majority of the deals that were reported being exercise options of previously inked orders. It seems that the general market uncertainty, brought about both by the most recent events in Ukraine and by the considerably higher prices of this year compared to 2013, seems to have awakened a more cautious investment approach amongst owners considering placing an order, albeit this trend is most probably temporary. In terms of new orders, Taiwanese owner Sincere Navigation has placed an order for one VLOCs (250,000dwt) in China, for a reported price of $ 64.0m.
Demolition (Wet: Stable- / Dry: Stable-)
Activity on the demolition front has slowed down this past week and it seems that the market has no specific direction as we are watching prices moving both south and north depending on the country where bids are coming from. India is holding on tight to its Queen of Demolition title for yet another week, with average prices quoted still achieving very firm levels for both wet and dry tonnage. Despite the fact that there is a substantial amount of demo candidates in the country, this somehow hasn't weighed down on prices yet and it may well be that cash buyers are not willing to negotiate their vessels at softer prices. At the same time Bangladesh sat on the sidelines as local breakers appeared to be uninterested to follow the competition to further high levels. As Bangladesh remained inactive, Pakistan returned back into action, while Chinese yards were, once more, simple observers to any action taking place, especially after bids coming out of the country lost some further ground as well. Average prices this week for wet tonnage were at around 330-470$/ldt and dry units received about 320-465$/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, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
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