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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, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
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