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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Carbofer General Trading SA - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
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