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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, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
Tuesday, 21 January 14
PORT OF NEWCASTLE SHIPPED SLIGHTLY MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 20 January 14, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2. ...
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- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
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