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