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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.
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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Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
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- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
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