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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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Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
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- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- White Energy Company Limited
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
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