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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.
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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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
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