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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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- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
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