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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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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
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