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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Bhatia International Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
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