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Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
 Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north of 1,700 points. It will take a longer period to understand how strong the legs to this latest rally are but the waves of optimism that have washed the market are undoubtedly high and more than welcome.
The BDI closed today (17/09/2013) at 1,740 points, up by 89 points compared to Monday’s levels (16/09/2013) and an increase of 199 points compared to the previous Tuesday’s levels (10/09/2013). Amidst US cooling off a bit on Syria talks and the UN pointing the headlight to Libya, the crude oil carrier market has moved sideways this week with VLs finding their footing on Westbound demand.
The BDTI Monday (16/09/2013), was at 582 points, a decrease of 5 points and the BCTI at 558, an decrease of 19 points compared to the previous Monday’s levels (09/09/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
A big part of those deals that were being negotiated towards the end of August came through this past week, boosting significantly the volume of SnP activity. As we head towards the last quarter of the year we expect even more action to take place especially on the Dry side where freight rates have started improving significantly.
On the tankers side, we had the sale of the “STAVANGER BELL” (105,309dwt-blt 10 , Japan), which was picked up by Greek buyers, for a price of US$ 31.0m. On the dry bulker side, we had the sale of the “CHRISMIR” (159,829dwt-blt 97 S. Korea), which was picked up by Greek buyers for a price of $ 13.5m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
The newbuilding market witnessed increased activity this past week with a high number of reported deals in both the wet and the dry sector coming to light. While further MR orders have concluded, the Ultramax segment wasn't shy of orders this week either and we cannot but stop thinking that the last quarter of the year will be even more active as far as new orders are concerned.
The recent rally in freight rate in the Dry Bulk market will surely inspire more owners to go after new tonnage as it happened back in 2010. The key difference this time is that newbuilding prices are nowhere close to what they were back then, so even if market recovery delays a bit longer, the financing of a new vessel should not prove to be lethally expensive as it did last time round.
In terms of concluded deals, Hong Kong based Parakou Shipping, was reported returning to China to exercise two options (64,000dwt) at CSSC Chengxi, at a price of US$ 25.5m each and with delivery set for 2015.
Demolition (Wet: Firm+ / Dry: Firm+ )
With the Indian Rupee appreciating further this week against the US Dollar there was finally some substantial optimism in the demolition market, which was evident both in the volume of deals that took place as well as the prices these were concluded at. With the exception of Bangladesh, where breaking activity was pretty much non-existent, the rest of the Indian sub-Continent nations got back into action.
As far as volume is concerned, breaking yards in China had the lion’s share for yet another week, with a series of demo deals agreed at levels quite impressive for the local market. With the volatility witnessed in the rest of the market and the continuous price strengthening in China, the country should hold its position as the “safest” choice for owners thinking to scrap their vessels and they wish to avoid cash buyers for the moment.
Average prices this week for wet tonnage were at around 370-395$/ldt and dry units received about 360-370$/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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
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