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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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Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Australian Coal Association
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
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