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