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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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Monday, 04 November 13
API 8 CFR S.CHINA COAL SWAP FOR Q3' 2014 DELIVERY CLOSED 3.65% HIGHER COMPARED TO Q1' 2014 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.24 percept W-W on Friday 1 November 2013. The CFR South China Co ...
Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
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- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
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