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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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Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- The University of Queensland
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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