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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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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
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