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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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Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Minerals Council of Australia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
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