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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- VISA Power Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- The University of Queensland
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
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