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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, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Parliament of New Zealand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
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