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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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Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
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- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Australian Coal Association
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
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