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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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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
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