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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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Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Heidelberg Cement - Germany
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Planning Commission, India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
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