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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, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
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