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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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Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
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- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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