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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Economic Council, Georgia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
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