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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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Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Siam City Cement PLC, Thailand
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