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Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down before the holidays. The BDI closed yesterday (23/12/2013) at 2,247 points, up by 39 points compared to Friday’s levels (20/12/2013) and a decrease of 45 points compared to previous Monday’s levels (16/12/2013). The Suezmax market continued the pre-Christmas rally, on the back of very strong demand ex-Waf, while rates for VLs noted small decreases. The BDTI Friday (20/12/2013), was at 932 points, an increase of 109 points and the BCTI at 628, a decrease of 4 points compared to the previous Friday’s levels (13/12/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
SnP activity slowed down a bit, with bulkers gaining most of the buying interest. On the tankers side, we had the sale of the “ALGECIRAS SPIRIT” (160,250dwt-blt 00, S. Korea), which was picked up by Greek buyers, for a price of US$ 17.9m. On the dry bulker side, we had the en-bloc sale of the “STX JINHAE 1621” (82,000dwt-blt 13 S. Korea) and the “STX JINHAE 1624” (82,000dwt-blt 14 S. Korea), which were picked up for a price of $ 31.3m and $ 32.6m respectively.
New building (Wet: Firm+ / Dry: Stable+ )
The new building market has undoubtedly offered the big surprise this year in terms of orders placed. Despite the fact that at times freight rates for both the dry and wet market were not supportive of a bet on additional orders, those who could get access to finance, appear to have made the right choice as prices have climbed on every single sector across the board. Chinese builders have attracted the bigger chunk of orders placed in 2013 on the back of offering attracting financing in times when there was nothing particularly attracting about placing an order. In an effort of reforming the shipbuilding altogether, the Ministry of Industry and Information Technology of China has recently announced a list of standards for enterprises involved in the domestic industry, which will come in effect in 2014 in order to ensure that local shipbuilders comply with certain conditions related to technologies, environment protection, energy saving, safety and so on and make those who don’t face stricter policies. In terms of new orders, Greek owner, Capital Maritime, exercised options for two MRs (52,000dwt) at Samsung Ningbo, in China, for a price of $ 32.8m each and with delivery set in 2016.
Demolition (Wet: Firm+ / Dry: Firm+ )
What the demolition market was hoping for, is finally taking place just as 2013 is about to set. Prices this week have moved further up, with a variety of reasons causing this latest sub-Continent surge. With the Indian currency continuing to display a very stable image for yet another week and local steel prices finding further support, bids coming out of the country have firmed once more, allowing for cash buyers to taste another big wave of excitement, as those who bet on price increases a couple of months back, when the market was under a lot of pressure, are now being rewarded. At the same time, Pakistani breakers were encouraged by their currency stabilizing as well, to also increase their bids so as not to be left behind the competition, while the lack of demo candidates has pushed Bangladeshi breakers to also increase their offers despite the political unrest continuing in the country. Further lack of activity in China has now pushed the gap between local yards and the sub-Continent to over 100$/ldt. Average prices this week for wet tonnage were at around 345-450$/ldt and dry units received about 335-433$/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 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
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