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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, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
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