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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- ASAPP Information Group - India
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