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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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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
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- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
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