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Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up for some of their recent losses. The BDI closed today (12/11/2013) at 1,543 points, down by 21 points compared to Monday’s levels (11/11/2013) and a decrease of 57 points compared to previous Tuesday’s levels (05/11/2013). The crude oil carriers market continues to firm, with rates for VLs witnessing another week of impressive gains on the back of strong Far East demand. The BDTI Monday (11/11/2013), was at 635 points, an increase of 27 points and the BCTI at 492, an increase of 1 point compared to the previous Monday’s levels (04/11/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
SnP activity considerably picked up this week with VL deals holding the lion’s share amongst dry and wet segments. On the tankers side, we had the sale of the “BLUE OPAL” (317,000dwt-blt 12, S. Korea), which was picked up by Navios for a price of US$ 83.0m. On the dry bulker side, we had the sale of the “PERLY” (77,830dwt-blt 02 Japan) which was picked up for a price in excess of $ 14.0m.
New building (Wet: Stable+ / Dry: Stable+ )
As the new building order spree continues, so does the firming of prices. This past week we raised our average new building quotes for a couple of segments in the dry bulker and tanker sides. The recent performance of the VL market, new building prices of which had stalled for quite some time due to poor freight rate performance, seems bound to move upwards as strengthening demand from the East has been supporting rates for more than two months straight. Improving freights has also been witnessed by Supras, the average price of which should now stand well above the $ 26.0m level for a new building unit. The increased interest of buyers in those but other segments of both dry bulkers and tankers seems that is now pushing owners who appear to be in a hurry to secure a slot to even smaller yards, which appear willing to satisfy that extra demand. This is definitely good for builders but is it for the market itself? The question is of course rhetorical as we will need further months of good performance in hires to fully support the current rate of ordering. In terms of new orders, Norwegian owner Jo Tankers was reported signing contracts for eight firm chemical parcel tankers (33,000dwt) at New Times in China, for a price of $ 40.0m each and with delivery between 2016 and 2017.
Demolition (Wet: Stable- / Dry: Stable-)
The volume of activity in the demolition market has slightly picked up, although some of the deals reported are traced back in prior weeks. Despite the fact that interest is very much present from both the buying and the selling side, it seems that the uncertainty that has prevailed during the past months has somewhat taken its toll on both owners and breakers sentiment as both sides seems to feel a bit indecisive. From one side, breakers have been “burnt” a few times in the recent past from local steel prices and currency fluctuations, ending up with tonnage bought at sky high prices compared to where the market ended up settling. On the other hand, owners have themselves witnessed demo buyers trying to walk out of previously agreed levels once the market had turned south. This past week prices have moved sideways in the Indian sub-Continent, while remaining stable in China. Average prices this week for wet tonnage were at around 345-425$/ldt and dry units received about 335-410$/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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
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