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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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Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Videocon Industries ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
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