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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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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
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