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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, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
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