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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
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- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
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