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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 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
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