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Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
 Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north of 1,700 points. It will take a longer period to understand how strong the legs to this latest rally are but the waves of optimism that have washed the market are undoubtedly high and more than welcome.
The BDI closed today (17/09/2013) at 1,740 points, up by 89 points compared to Monday’s levels (16/09/2013) and an increase of 199 points compared to the previous Tuesday’s levels (10/09/2013). Amidst US cooling off a bit on Syria talks and the UN pointing the headlight to Libya, the crude oil carrier market has moved sideways this week with VLs finding their footing on Westbound demand.
The BDTI Monday (16/09/2013), was at 582 points, a decrease of 5 points and the BCTI at 558, an decrease of 19 points compared to the previous Monday’s levels (09/09/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
A big part of those deals that were being negotiated towards the end of August came through this past week, boosting significantly the volume of SnP activity. As we head towards the last quarter of the year we expect even more action to take place especially on the Dry side where freight rates have started improving significantly.
On the tankers side, we had the sale of the “STAVANGER BELL” (105,309dwt-blt 10 , Japan), which was picked up by Greek buyers, for a price of US$ 31.0m. On the dry bulker side, we had the sale of the “CHRISMIR” (159,829dwt-blt 97 S. Korea), which was picked up by Greek buyers for a price of $ 13.5m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
The newbuilding market witnessed increased activity this past week with a high number of reported deals in both the wet and the dry sector coming to light. While further MR orders have concluded, the Ultramax segment wasn't shy of orders this week either and we cannot but stop thinking that the last quarter of the year will be even more active as far as new orders are concerned.
The recent rally in freight rate in the Dry Bulk market will surely inspire more owners to go after new tonnage as it happened back in 2010. The key difference this time is that newbuilding prices are nowhere close to what they were back then, so even if market recovery delays a bit longer, the financing of a new vessel should not prove to be lethally expensive as it did last time round.
In terms of concluded deals, Hong Kong based Parakou Shipping, was reported returning to China to exercise two options (64,000dwt) at CSSC Chengxi, at a price of US$ 25.5m each and with delivery set for 2015.
Demolition (Wet: Firm+ / Dry: Firm+ )
With the Indian Rupee appreciating further this week against the US Dollar there was finally some substantial optimism in the demolition market, which was evident both in the volume of deals that took place as well as the prices these were concluded at. With the exception of Bangladesh, where breaking activity was pretty much non-existent, the rest of the Indian sub-Continent nations got back into action.
As far as volume is concerned, breaking yards in China had the lion’s share for yet another week, with a series of demo deals agreed at levels quite impressive for the local market. With the volatility witnessed in the rest of the market and the continuous price strengthening in China, the country should hold its position as the “safest” choice for owners thinking to scrap their vessels and they wish to avoid cash buyers for the moment.
Average prices this week for wet tonnage were at around 370-395$/ldt and dry units received about 360-370$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Marubeni Corporation - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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