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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, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
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- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
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