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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, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
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