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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, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
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