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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
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