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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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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- MS Steel International - UAE
- Australian Coal Association
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
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