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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
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