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Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
 Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates for which continued to correct downwards for a second week in a row.
The BDI closed today (22/10/2013) at 1,847 points, down by 31 points compared to Monday’s levels (21/10/2013) and a decrease of 116 points compared to the previous Tuesday’s levels (15/10/2013). VLs succeed another weekly boost, with demand holding steady, while the North Sea blessed Aframax rates that surged on the back of short ballasting lists in the region. The BDTI Monday (21/10/2013), was at 621 points, an increase of 35 points and the BCTI at 498, a decrease of 14 points compared to the previous Monday’s levels (14/10/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
SnP activity has surged this week with the majority of the deals concluded involving dry tonnage. The latest firing up in buying interest for second hand bulkers continues to boost price levels in the segment. On the tankers side, we had the sale of the “DIAMOND ATERNITY” (107,500dwt-blt 11, Japan), which was picked up for a price of US$ 31.1m. On the dry bulker side, we had the en-bloc sale of the “CAPE KESTREL” (161,475dwt-blt 93 S. Korea) and the “GRAFTON” (122,292dwt-blt 96 S. Korea) which were picked up by Ukrainian buyer, Vista Shipping, for a price of $ 12.5m and $ 8.0m respectively.
New building (Wet: Firm+ / Dry: Firm+)
Activity on the newbuilding front is keeping its pace, with the majority of the deals coming to light this past week being for dry tonnage. Although we are trying to be as realistic as possible regarding this recent boost in new building prices for dry bulkers, the truth is that most of the contracts that are being inked lately are steadily done on firmer and firmer prices, creating a higher market average for almost all sizes in the sector.
Some of the most recently reported orders for Capes are displaying a clear trend that we should be soon moving into the mid $ 50s million territory for the segment, having us think that from that level the figure could easily jump to the $ 60.0m area, especially for earlier slots should demand continue to be strong and the freight market improve further in the next twelve months. In terms of new orders, Greek owner Alpha Tankers & Freighters was reported placing an order of four firm Capesize vessels (180,000dwt) at Hyundai Mipo, in S. Korea, for a price of $ 56.5m each and with delivery set between 2015 and 2016.
Demolition (Wet: Stable- / Dry: Stable-)
Activity in the demolition market has considerably slowed down this week. Nevertheless, this didn't have any immediate impact on prices, which remained stable across the board. As it has been happening lately, cash buyers have managed to conclude a small number of deals above market for yet another week, distorting again the image of the actual bids that are being offered on average in the Indian sub-Continent. At the same time the Indian Rupee seems to have stabilized and it's seems that this will continue to be the case at least for the short term.
Pakistan has returned from inactivity this past week, despite the holidays still taking place, scrapping a VL and at a price around 20 $/ldt higher than what is the current level for wet tonnage over there. Demand for demo candidates has remained pretty much non-existent in the Far East, with Chinese yards seeming unable to attract owners’ interest after the price gap with the rest of the breakers nations has widened again. Average prices this week for wet tonnage were at around 360-425$/ldt and dry units received about 350-410$/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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
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