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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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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- VISA Power Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
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