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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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Tuesday, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
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- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Planning Commission, India
- PTC India Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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