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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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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
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- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
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