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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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Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
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- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Australian Coal Association
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
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