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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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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
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- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
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