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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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Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
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