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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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Monday, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
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 ...
Monday, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
Friday, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
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- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Economic Council, Georgia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
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