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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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Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
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- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Central Java Power - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
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