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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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- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
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