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Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
 The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed during the boom years of the shipping ''supercycle'' down to the dreadful doldrums during the first half of this year were fixtures were reported at levels well below OPEX.
It’s also been a sector often closely associated with the Asian Economic Powerhouse, namely China and its seemingly insatiable appetite for development linked raw materials (especially iron ore and coal) which are a gauge to its overall economic development as well as its future prospects.
All this has always held Capes as a bit of a buzzword amongst SnP brokers, while nowadays this has been more so as we have seen an impressive array of recent SnP transactions (mainly second hand but also a significant number of NBs) during the first six months of 2013.
Main interest has been for vessels built between 1997 and 2004 (9-16 years of age), partly due to their relatively lower values compared to what was seen two year back, but also due to the ''enhanced'' prospects brought about the occasional Chinese replenishing of stock-piles (of the most recent have been during the final quarter of 2012 and another which is currently underway).
The order book as it stands today is at levels less daunting than other sectors such as panamaxes, with around 37.45 mill dwt scheduled to be added to the current capacity of 274 mill dwt till 2016. That is equivalent to 14% of the current fleet compared to an order book-to-fleet ratio of 22% seen for Panamaxes.
In terms of numbers, there are a further 80 capes scheduled for delivery within the rest of 2013, 74 set or next year, another 29 or 2015 and beyond.
Norwegian shipping magnate Fredriksen was one of the first to signal the start of the most recent drive or new orders, while his most recently reported order for 2 X 205k dwt VLOC at Bohai shows a clear vote of confidence as to the prospects of the sector. Some claim that the recent rally in the freight market which caused rates to surge from the depths of US$ 6,000/day that they had been seeing on average this year to climb to the staggering level of US$ 14,866/day which is only a breath away from the psychological barrier of US$ 15,000/day.
It is important to point out that capes started 2012 at approximately US$ 16-18k per day, thereafter plunged down to between US$ 6-4 k per day till Sept/Oct where they staged a recovery and peaked once again at US$ 18,388/day by end Oct where after they nosedived back down to an average of US$ 6k per day with small variations till May 2013 when the most recent rally in freight rates began.
In conclusion and having as a backdrop all the above mentioned regarding more balanced growth and temporarily improvement in the freight market, we have had the following capes changing hand the last month;
the “Mineral Sines” (172kdwt blt 2002 Daewoo) rgn US$ 19.80 mill to a joint venture between Italians and major commodity traders/charterers,
the “Atlantic Princess” (180k dwt blt 2003 Imabari) rgn US$ 20.3 mill with SS/DD due to Greeks
the slightly older “Star Fortune” (170k dwt blt 1999 IHI) rgn US$ 15 mill to Chinese and down to the much older “Noni M” (183k dwt blt 1995 Kawasaki) rgn US$ 10.5 mill to HK Buyers.
Chartering
The Dry Bulk market is going from strength to strength, with the BDI now “flirting” with the 1,200 points level. The rally in the Capesize segment is still the main driver behind the positive sentiment that has boosted the market, providing a very strong rate reversal, one that most market players expected to take place a bit later in the year.
The Capesize market has had an excellent run throughout the month of June. With charterers getting back in action and at the same time disruptions taking place in Brazilian ports, ones which have only recently started easing a bit, rates for Capes have kept firming this past week, mainly boosted by activity in the 'Atlantic basin where the average rate has now surpassed the $ 15,000/day level, more than doubling since the beginning of the month of June.
Activity in the Atlantic still remains very supportive for Panamax rates, with shorter tonnage lists in N.Continent, boosting rates for another week, while ex-ECSA cargoes increasing further activity in the area. At the same time things in the Pacific remain a bit flattish but underlined by improved sentiment overall.
Rates for Supras and Handies have also firmed this week, with cargoes ex-ECSA boosting activity for both segments. The USG area keeps witnessing very good levels of fixtures for Supras, while the Pacific basin still provides most of the upside momentum for Handies.
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.
If you believe an article violates your rights or the rights of others, please contact us.
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Tuesday, 09 July 13
NEWCASTLE COAL EXPORTS JUMP 27.53% ON WEEK TO 2.97 MILLION MT
COALspot.com - Newcastle Coal exports up 27.53% to 2.97 million tons W-o-W.
Newcastle port in Australia has loaded 2,974,715 tons of coal for the ...
Tuesday, 09 July 13
CAPESIZE: SHOT UP; PANAMAXES: NOT SO LUCK; SUPRAS: SLIGHTLY BETTER; HANDIES: SOFT - INTERMODAL
COALspot.com : June 2013 Recap
A renewed Capesize market this month (June 2013) was the cause for much of the overall noteworthy performanc ...
Tuesday, 09 July 13
THE 11TH DEEP COAL PROCESSING FORUM 2013
Press Release : The 11th Deep Coal Processing Forum 2013 will be held in November Beijing China.
CDMC Events is pleased to announce that 11 ...
Monday, 08 July 13
ECO-FRIENDLY COAL FOR CHINA - VALUE FOR THE ENVIRONMENT AND VALUE FOR THE POWER GENERATOR - BY: LINDSAY JUNIPER
COALspot.com : January 2013 saw an episode of extreme particulate pollution in Beijing 35 times worse than the safe level recommended by the World H ...
Sunday, 07 July 13
FREIGHT MARKET IS EXPECTED TO BE SOFT TO STABLE NEXT WEEK- VISTAAR
COALspot.com - The freight market softened for the week ended 5 July 2013, and experienced a decline in all sectors, including BDI. Bulk dry Index d ...
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Showing 4216 to 4220 news of total 6871 |
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- VISA Power Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- White Energy Company Limited
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
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