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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 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
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