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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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Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
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- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Planning Commission, India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
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