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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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
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- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Australian Coal Association
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
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