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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, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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