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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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