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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
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