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