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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.
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Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
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- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
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