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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, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
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- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
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