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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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- The University of Queensland
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
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