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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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Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
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- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- The Treasury - Australian Government
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- The University of Queensland
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
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