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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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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- GMR Energy Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
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