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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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Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
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- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
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