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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- The University of Queensland
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- VISA Power Limited - India
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