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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, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- MS Steel International - UAE
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
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