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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
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