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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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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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- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
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