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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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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
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