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