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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, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
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