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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
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