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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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Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
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