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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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- SMC Global Power, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
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