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Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both Capes and Panamaxes was only partly offset by the stable performance of Supras and Handies.
The BDI closed today (29/10/2013) at 1,551 points, down by 68 points compared to Monday’s levels (28/10/2013) and a decrease of 296 points com-pared to the previous Tuesday’s levels (22/10/2013). Weak activity in the North Sea pushed Afra rates down, while the rest of the crude carriers market moved up, with sentiment improving considerably. The BDTI Monday (28/10/2013), was at 599 points, a decrease of 22 points and the BCTI at 484, a decrease of 14 points compared to the previous Mon-day’s levels (21/10/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
The SnP market has maintained the good volumes of activity that we have been seeing lately.
Irrespective of any volatility that might be witnessed by freight rates in the short term, we expect an active Q4 in terms of second hand sales as more owners appear ready to bet on a market recovery being noted over the next couple of years. On the tankers side, we had the sale of the “CHAMPION PEACE” (106,042dwt-blt 99, Japan), which was picked up by S. Korean buyer Sinokor for a price of US$ 11.0m. On the dry bulker side, we had the sale of the “HOUHENG 3” (179,895dwt-blt 12 Philippines) which was picked up by Greek buyers for a price of $ 52.0m.
New building (Wet: Stable+ / Dry: Stable+)
Despite firm interest for new orders continuing to hold for yet another week, shipyards are still holding a reserved optimism for the future prospects, while continuing to squeeze the most out of this most recent opportunity, rather than making grand plans for capacity expansion. We have already seen shipbuilders purposely contain the number of slots they have available focusing on efficiency, as such, leaving the market with almost no slots with delivery within the next 12-18 months. At the same time there has been a constant and significant rise in the prices being quoted, especially for the more popular dry bulk vessel designs. It is interesting to note that we have seen a considerable price increase of between 5-11% amongst dry bulk slots over the past four months alone, while tankers have only noted a 1-4% rise during the same period. In terms of new orders, Greek owner Golden Union, was reported exercising options for two Capesize vessels (180,000dwt) at Hanjin in Philip-pines, for a price of $ 54.5m each and with delivery towards the end of 2015.
Demolition (Wet: Stable+ / Dry: Stable-)
The demolition scene continues to face slow activity. The short list of deals that were reported this past week doesn’t include neither India nor Bangladesh, as breakers in both these countries seem to be sitting in the sidelines at the moment. In India it appears that cash buyers who managed to secure tonnage during the previous weeks are currently assessing whether this was a good move, as the sentiment is not as strong as it has been in the beginning of the month. Pakistan on the other hand has secured another VL, after the 95 built DELOS the week prior, proving that for the “right” tonnage local breakers are still pre-pared to pay the extra premium. In the East, Chinese breaking yards have lowered their bids even further this week, being less and less ap-pealing for owners of demo candidates that are ballasting in the region, as the trip towards the Indian sub-Continent is still very much worth the trouble. Average prices this week for wet tonnage were at around 350-425$/ldt and dry units received about 340-410$/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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Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
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