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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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Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Australian Coal Association
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
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