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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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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
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