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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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Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
Wednesday, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those fo ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
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- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
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