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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 no one believed could be achieved in 2013 and the rest of the segments following, the positive sentiment has overtaken even the most skeptic ones. The BDI closed today (24/09/2013) at 2,021 points, up by 74 points compared to Monday’s levels (23/09/2013) and an increase of 281 points compared to the previous Tuesday’s levels (17/09/2013).
While rates for Suezmaxes unsuccessfully tried to find their footing this week, Eastbound demand seems to have brought some balance in the VL’s, while Afras found support from revived activity in the North Sea. The BDTI Monday (23/09/2013), was at 585 points, a decrease of 3 points and the BCTI at 529, a decrease of 29 points compared to the previous Monday’s levels (16/09/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
Activity on the SnP front has considerably slowed down this past week. While the confidence on the potential of the MR sector is receiving more confidence, we believe that dry units will receive more interest in the coming days following the rally that is still taking place in the freight market.
On the tankers side, we had the en-bloc sale of the “SPP SACHEON S5122” (50,300dwt-blt 13, S. Korea), the “SPP SACHEON S5123” (50,300dwt-blt 14, S. Korea), the “SPP SACHEON S5124” (50,300dwt-blt 14, S. Korea) and the “SPP SACHEON S5125” (50,300dwt-blt 14, S. Korea), which went to Italian buyer Scorpio, for a price of US$ 37.75m each. On the dry bulker side, we had the sale of the “YANGZHOU DAYANG DY4028” (63,500dwt-blt 14 China), which was picked up by German buyer Oldendorff for a price of $ 26.5m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
Activity in the newbuilding market is sustaining its pace, with interest spread equally across bulkers and tankers. This past week there was also a fair number of Gas orders being reported, revealing the increased faith in the LPG sector and consequently its trade. Nonetheless and despite the popularity of such niche sectors, newbuilding prices for vessels haven't made any notable increases, at least for the time being.
On the contrary we keep watching prices in the dry sector moving slowly but steadily higher and should the freight market continue its current performance we expect the trend to last. In terms of concluded deals, Greek owner, Eletson Corporation, was reported placing an order of five Gas carriers (12,000cbm) to Hyundai Mipo, S.Korea, at a price of US$ 36.6m each and with delivery set between 2015 and 2016.
Demolition (Wet: Firm+ / Dry: Firm+ )
Last week the Reserve Bank of India has made a decisive move in its effort to support the local currency, by boosting its benchmark repurchase rate to 7.5% from 7.25%. This is the first increase since 2011 and one which most economist didn't expect. As the Indian Rupee has been weakening against its US counterpart, reaching consecutive historical lows only recently, the need for support has been expedited even after the Federal Reserve has committed to continue its bond purchase at the current levels, which practically means that the economic recovery is still very much fragile and therefore any rate increases at this stage can be harmful.
Despite the rate hike in India, the Rupee hasn't enjoyed any substantial upside yet, fact that is worrisome for the demo market amongst other things. Nevertheless, at least for now, breakers appear to have taken these news positively, as prices across the board picked up, with the Indian Sub-Continent witnessing the bigger increases as expected. Average prices this week for wet tonnage were at around 375-405$/ldt and dry units received about 365-385$/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
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 ...
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
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- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
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