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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- The University of Queensland
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
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