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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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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
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