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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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Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
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- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
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