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Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those for the smaller size segments firming further. The BDI closed today (19/11/2013) at 1,495 points, down by 5 points compared to Monday’s levels (18/11/2013) and a decrease of 57 points compared to previous Tuesday’s levels (12/11/2013). The VL market has gained strength for yet another week, with enquiries ex-MEG sustaining their strong volumes and owners holding the upper hand firmly in the presence of tighter tonnage lists in the region. The BDTI Monday (18/11/2013), was at 647 points, an increase of 12 points and the BCTI at 498, an increase of 6 points compared to the previous Monday’s levels (11/11/2013)
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
This past week container vessels had a strong presence within the list of reported SnP deals, with a couple of a-list owners betting on the sector through big en-bloc deals. On the tankers side, we had the sale of the “SHINYO NAVIGATOR” (300,549dwt-blt 96, S. Korea), which was picked up for a price of US$ 22.0m. On the dry bulker side, we had the sale of the “GRAND DIVA” (76,596dwt-blt 07 Japan) which was picked up by Greek buyers for a price of $ 21.1m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
While both the volume of newbuilding orders and prices continue to climb, it seems that the Chinese government is set to further support its shipbuilding industry, by enforcing a plan that has been considered for quite a while now by officials in the country. The main measure involves a 20% subsidy off Chinese newbuildings, to those owners who decide to also scrap a vessel of fifteen years of age or older. The subsidies, the total amount of which is estimated at around US $ 750.0m, are rumored to be made available around the end of this year and beginning of 2014 and the program is set to last for two years. This is the type of measure that boosts the local shipbuilding industry without necessarily sacrificing a healthy, in terms of tonnage, market. This measure will be of great help to all these private Chinese yards that have been struggling to stay in business, but at the same time we can’t help but wonder whether this is another way to “kick the can down the road” on a sector that over-expanded to begin with. In terms of new orders, Singaporean owner Navig8 was reported signing contracts for two firm plus two optional VLCCs (300,000dwt) at Hyundai in S. Korea, for a price of $ 92.0m each and with delivery set between 2015 and 2016.
Demolition (Wet: Stable+ / Dry: Stable+ )
While the volume of activity in the demolition market is still very far from the levels we would like to see, it is at least hopeful that prices haven't turned south again. Saying that, the weakness displayed by the Indian Rupee against the US dollar in the beginning of this past week has been quite unnerving, considering the volatility of the exchange rate during the past months. The currency has nonetheless managed to stabilize and rebound mid-week onwards, fact mainly attributed to the country’s Finance Minister pledge that both the current account and fiscal deficit goals will be met this year, which ultimately helped local demo prices to hold their levels. At the same time Bangladesh, partly taking advantage local steel prices heading north, managed to emerge as the strongest link in the demo scene of last week, with local breakers managing to snap vessels from the competition by bidding at some ludicrous levels, while Pakistan remained at the sidelines dealing with weakening currency issues itself. Average prices this week for wet tonnage were at around 345-435$/ldt and dry units received about 335-420$/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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
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