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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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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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- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
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