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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
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