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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, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Economic Council, Georgia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
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