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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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Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
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- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
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