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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, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
Sunday, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
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- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
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