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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, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
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