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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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Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
Tuesday, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
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- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Planning Commission, India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
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