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Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
 Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we need to see some strength from the entire market rather than Capes alone before we call this a turning point. The BDI closed today (06/05/2014) at 1,022 points, up by 5 points compared to Friday’s levels (02/05/2014) and an increase of 73 points compared to previous Tuesday’s closing (29/04/2014). The crude carriers market is still weighed down by uninspiring activity across all segments. The BDTI Friday (02/05/2014), was at 647 points, a decrease of 4 points and the BCTI at 526, an increase of 6 points compared to previous Tuesday (29/04/2014).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
It’s been a long time since we could last cover the weekly SnP activity in just one page. Undeniably, the mind of most owners is currently more on the additional challenges lying ahead in the freight rate market and less on getting their hands in additional tonnage, while those who are still active appear to be showing a preference to 10-15 year old Panamax vessels. On the tanker side, we had the sale of the “ASTRO SIRIUS” (98,805dwt-blt 96, S. Korea), which was picked up by Middle Eastern buyers for a price of $ 10.0m. On the dry bulker side, we had the en-bloc sale of the “ABYO CHERLIZE” (72,529dwt-blt 97 S. Italy) and the “ABYO NATALIE” (72,529dwt-blt 96 S. Italy), which were picked for a price of US$ 7.25m each.
New building (Wet: Stable+ / Dry: Stable+)
The new building market continues to operate under the shadow of a disappointing freight rate environment, while we are still witnessing a limited number of orders across all segments coming through. At the same time it also seems that owners are switching their preference between segments as well. The example of Greek owner Capital Maritime, which is reportedly opting for a pair of VLCCs instead of a pair of two Post Panamax containerships initially agreed, comes to show that the market for container vessels is still considered week and/or that Tankers have better prospects currently, at least as far as owners sentiment is concerned. Time is always the fair judge of such decisions, until then, value is in the eye of the beholder. In terms of new orders, COSCO Xiamen has placed an order in Shanhaiguan in China, for five firm Green Dolphin design Handysize vessels (38,300dwt), for an undisclosed price and delivery set in 2016.
Demolition (Wet: Firm+ / Dry: Firm+ )
Once again, the demolition market is proving to be the top performing across the shipping industry and consequently the one where most of the action is taking place. Prices across the Indian sub-Continent have firmed considerably this past week, with dry tonnage comfortably achieving prices in the range of $480/ldt to $500/ldt. As a result sentiment went off the charts, urging more and more owners to consider the scrapping option, which is definitely good news There are a number of cases of recently reported deals, which are bringing in the hands of owners cash amounts very close to those paid by them to acquire the vessel in the first place, where the acquisition took place sometime between 2010 and beginning of 2013. The example of the Panamax vessel “YU JIE” (72,578dwt-10,876ldt-blt87), which was bought for US$ 4m during the last quarter of 2012 and recently headed for scrapping, is the most notable this week. The vessel achieved a price north of $500/ldt, which translates to US$ 5.46m, a figure well above its purchase price. Average prices this week for wet tonnage were at around 325-505$/ldt and dry units received about 310-495$/ldt.
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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Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
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