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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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Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
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- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Planning Commission, India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
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