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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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Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
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- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
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