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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, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- White Energy Company Limited
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Economic Council, Georgia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
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