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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, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- Videocon Industries ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
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