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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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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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- Coal and Oil Company - UAE
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
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