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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
Wednesday, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
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- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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