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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, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
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