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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, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
Thursday, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
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- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
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