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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, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
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