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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
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