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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 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
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