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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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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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