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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 no one believed could be achieved in 2013 and the rest of the segments following, the positive sentiment has overtaken even the most skeptic ones. The BDI closed today (24/09/2013) at 2,021 points, up by 74 points compared to Monday’s levels (23/09/2013) and an increase of 281 points compared to the previous Tuesday’s levels (17/09/2013).
While rates for Suezmaxes unsuccessfully tried to find their footing this week, Eastbound demand seems to have brought some balance in the VL’s, while Afras found support from revived activity in the North Sea. The BDTI Monday (23/09/2013), was at 585 points, a decrease of 3 points and the BCTI at 529, a decrease of 29 points compared to the previous Monday’s levels (16/09/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
Activity on the SnP front has considerably slowed down this past week. While the confidence on the potential of the MR sector is receiving more confidence, we believe that dry units will receive more interest in the coming days following the rally that is still taking place in the freight market.
On the tankers side, we had the en-bloc sale of the “SPP SACHEON S5122” (50,300dwt-blt 13, S. Korea), the “SPP SACHEON S5123” (50,300dwt-blt 14, S. Korea), the “SPP SACHEON S5124” (50,300dwt-blt 14, S. Korea) and the “SPP SACHEON S5125” (50,300dwt-blt 14, S. Korea), which went to Italian buyer Scorpio, for a price of US$ 37.75m each. On the dry bulker side, we had the sale of the “YANGZHOU DAYANG DY4028” (63,500dwt-blt 14 China), which was picked up by German buyer Oldendorff for a price of $ 26.5m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
Activity in the newbuilding market is sustaining its pace, with interest spread equally across bulkers and tankers. This past week there was also a fair number of Gas orders being reported, revealing the increased faith in the LPG sector and consequently its trade. Nonetheless and despite the popularity of such niche sectors, newbuilding prices for vessels haven't made any notable increases, at least for the time being.
On the contrary we keep watching prices in the dry sector moving slowly but steadily higher and should the freight market continue its current performance we expect the trend to last. In terms of concluded deals, Greek owner, Eletson Corporation, was reported placing an order of five Gas carriers (12,000cbm) to Hyundai Mipo, S.Korea, at a price of US$ 36.6m each and with delivery set between 2015 and 2016.
Demolition (Wet: Firm+ / Dry: Firm+ )
Last week the Reserve Bank of India has made a decisive move in its effort to support the local currency, by boosting its benchmark repurchase rate to 7.5% from 7.25%. This is the first increase since 2011 and one which most economist didn't expect. As the Indian Rupee has been weakening against its US counterpart, reaching consecutive historical lows only recently, the need for support has been expedited even after the Federal Reserve has committed to continue its bond purchase at the current levels, which practically means that the economic recovery is still very much fragile and therefore any rate increases at this stage can be harmful.
Despite the rate hike in India, the Rupee hasn't enjoyed any substantial upside yet, fact that is worrisome for the demo market amongst other things. Nevertheless, at least for now, breakers appear to have taken these news positively, as prices across the board picked up, with the Indian Sub-Continent witnessing the bigger increases as expected. Average prices this week for wet tonnage were at around 375-405$/ldt and dry units received about 365-385$/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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Friday, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
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