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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, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
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- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
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