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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.
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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Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Indian Energy Exchange, India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
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