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Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
 Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market has maintained its upward direction, with rates for Panamaxes and Supras firming at the back of a busy Atlantic. The BDI closed today (01/09/2013) at 1,994 points, down by 9 points compared to Monday's levels (30/09/2013) and a decrease of 27 points compared to the previous Tuesday's levels (24/09/2013). VLs managed to sustain their levels from the week before, as demand from China has kept things alive, while the Suezmax segment is still struggling with oversupply of tonnage in key regions. The BDTI Monday (30/09/2013), was at 584 points, a decrease of 1 point and the BCTI at 546, an increase of 17 points compared to the previous Monday's levels (23/09/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
It seems that owners are rushing to secure second-hand tonnage in anticipation of a further freight recovery that might take place during the last quarter of the year but also in order to secure a piece of the asset play that is already taking place, representative example of which is the "STAR FORTUNE" (170,974dwt-blt 1999, Japan) that was sold for $15.0m back in June and was rumoured being sold again at $17.0m this past week. On the tankers side, we had the sale of the "PACIFIC POLARIS" (47,999dwt-blt 04 , Japan), which was picked up by Greek buyers, for a price of US$ 17.2m. On the dry bulker side, we had the sale of the "TOSA SEA" (92,500dwt-blt 10, China), which went to Greek buyer, Empire Bulkers for a price of $ 20.0m.
New building (Wet: Stable+ / Dry: Stable+)
Bring on the Bulkers !!! The majority of new building orders that are being reported are still very much reflecting the renewed faith in the Dry Bulk sector that is bringing along some much needed business for Chinese yards that are evidently gaining the lion's share from these orders.
Yangzijiang Shipbuilding in China has only today revealed securing orders of six VLOCs, including options, which in addition to recently exercised options will add another $ 817.0m to the value of its order book for this year so far. In terms of concluded deals, Last week, in another vote of confidence to Chinese yards, Greek owner, Star Bulk Carriers was reported placing an order for two Newcastle maxes (208,000dwt) at SWS, along with two Ultramaxes (61,000dwt) and another two Newcastle maxes (209,000dwt) both at NACKS, with deliveries set between 2015 and 2016.
Demolition (Wet: Firm+ / Dry: Firm+)
"The Return of India" could well be the title in last week's demolition scene and what a comeback this has been. It seems that the move of the Reserve Bank of India to increase its repurchase rate has finally started feeding through market sentiment, which has been very supportive of the Indian Rupee. The local currency has recovered significantly against its US counterpart luring cash buyers away from the side-lines and back into action. The bids currently coming out of the Indian sub-Continent, have surpassed every expectation, with almost all deals being negotiated above 400$/ldt. Demand also appears to be quite impressive, as it seems that breakers' appetite has been growing bigger following all these weeks of inactivity. At the same time breaking yards in China have missed the spotlight this past week both because of the surge in the Indian Sub-Continent bids but also due to upcoming holidays that start today. Chances are that the recess will further widen the price gap between China and the rest of the demo markets at least for the short term. Average prices this week for wet tonnage were at around 375-415$/ldt and dry units received about 365-405$/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, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
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- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Planning Commission, India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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