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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$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 13 October 13
API 8 CFR SOUTH CHINA COAL - AVERAGE Q4 2013 DELIVERY FELL 0.30 PERCEPT ON WEEK
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.30 percept week on week on Friday 11 October 2013. The CFR South ...
Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
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- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
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