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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, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- The University of Queensland
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
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