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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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Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
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- Marubeni Corporation - India
- Planning Commission, India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- The University of Queensland
- Romanian Commodities Exchange
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
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