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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Australian Coal Association
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
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