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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, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Central Electricity Authority - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
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