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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
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- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- VISA Power Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
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