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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, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
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