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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, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
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