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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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
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