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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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Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
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