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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
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