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Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
 Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market has maintained its upward direction, with rates for Panamaxes and Supras firming at the back of a busy Atlantic. The BDI closed today (01/09/2013) at 1,994 points, down by 9 points compared to Monday's levels (30/09/2013) and a decrease of 27 points compared to the previous Tuesday's levels (24/09/2013). VLs managed to sustain their levels from the week before, as demand from China has kept things alive, while the Suezmax segment is still struggling with oversupply of tonnage in key regions. The BDTI Monday (30/09/2013), was at 584 points, a decrease of 1 point and the BCTI at 546, an increase of 17 points compared to the previous Monday's levels (23/09/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
It seems that owners are rushing to secure second-hand tonnage in anticipation of a further freight recovery that might take place during the last quarter of the year but also in order to secure a piece of the asset play that is already taking place, representative example of which is the "STAR FORTUNE" (170,974dwt-blt 1999, Japan) that was sold for $15.0m back in June and was rumoured being sold again at $17.0m this past week. On the tankers side, we had the sale of the "PACIFIC POLARIS" (47,999dwt-blt 04 , Japan), which was picked up by Greek buyers, for a price of US$ 17.2m. On the dry bulker side, we had the sale of the "TOSA SEA" (92,500dwt-blt 10, China), which went to Greek buyer, Empire Bulkers for a price of $ 20.0m.
New building (Wet: Stable+ / Dry: Stable+)
Bring on the Bulkers !!! The majority of new building orders that are being reported are still very much reflecting the renewed faith in the Dry Bulk sector that is bringing along some much needed business for Chinese yards that are evidently gaining the lion's share from these orders.
Yangzijiang Shipbuilding in China has only today revealed securing orders of six VLOCs, including options, which in addition to recently exercised options will add another $ 817.0m to the value of its order book for this year so far. In terms of concluded deals, Last week, in another vote of confidence to Chinese yards, Greek owner, Star Bulk Carriers was reported placing an order for two Newcastle maxes (208,000dwt) at SWS, along with two Ultramaxes (61,000dwt) and another two Newcastle maxes (209,000dwt) both at NACKS, with deliveries set between 2015 and 2016.
Demolition (Wet: Firm+ / Dry: Firm+)
"The Return of India" could well be the title in last week's demolition scene and what a comeback this has been. It seems that the move of the Reserve Bank of India to increase its repurchase rate has finally started feeding through market sentiment, which has been very supportive of the Indian Rupee. The local currency has recovered significantly against its US counterpart luring cash buyers away from the side-lines and back into action. The bids currently coming out of the Indian sub-Continent, have surpassed every expectation, with almost all deals being negotiated above 400$/ldt. Demand also appears to be quite impressive, as it seems that breakers' appetite has been growing bigger following all these weeks of inactivity. At the same time breaking yards in China have missed the spotlight this past week both because of the surge in the Indian Sub-Continent bids but also due to upcoming holidays that start today. Chances are that the recess will further widen the price gap between China and the rest of the demo markets at least for the short term. Average prices this week for wet tonnage were at around 375-415$/ldt and dry units received about 365-405$/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, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
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