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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.
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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Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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 ...
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- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- PTC India Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
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