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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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Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
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- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- SMG Consultants - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Posco Energy - South Korea
- Central Electricity Authority - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
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