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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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Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
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