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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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Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
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