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