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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.
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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Posco Energy - South Korea
- The University of Queensland
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
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