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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- The University of Queensland
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
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