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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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Sunday, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
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- MS Steel International - UAE
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
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