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