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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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Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Australian Coal Association
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