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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, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
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 ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
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- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
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