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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, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
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