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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
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