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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Planning Commission, India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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