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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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Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
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