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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, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
Thursday, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
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- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
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