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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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Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
Monday, 05 August 13
INDO GOVERNMENT'S DECLARED HBA IN AUGUST '13 FALL TO LOWEST LEVEL SINCE JANUARY '10
COALspot. com - HBA fell to US$ 76.70 this month, the lowest since January 2010. Indonesian Coal Price Reference fell 6.11% and hitting a 2013 ...
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- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Minerals Council of Australia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
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