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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, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
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