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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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Monday, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Minerals Council of Australia
- Mjunction Services Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
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