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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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Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
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- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- The University of Queensland
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Australian Coal Association
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
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