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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, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- Minerals Council of Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
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