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Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
 Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates for which continued to correct downwards for a second week in a row.
The BDI closed today (22/10/2013) at 1,847 points, down by 31 points compared to Monday’s levels (21/10/2013) and a decrease of 116 points compared to the previous Tuesday’s levels (15/10/2013). VLs succeed another weekly boost, with demand holding steady, while the North Sea blessed Aframax rates that surged on the back of short ballasting lists in the region. The BDTI Monday (21/10/2013), was at 621 points, an increase of 35 points and the BCTI at 498, a decrease of 14 points compared to the previous Monday’s levels (14/10/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
SnP activity has surged this week with the majority of the deals concluded involving dry tonnage. The latest firing up in buying interest for second hand bulkers continues to boost price levels in the segment. On the tankers side, we had the sale of the “DIAMOND ATERNITY” (107,500dwt-blt 11, Japan), which was picked up for a price of US$ 31.1m. On the dry bulker side, we had the en-bloc sale of the “CAPE KESTREL” (161,475dwt-blt 93 S. Korea) and the “GRAFTON” (122,292dwt-blt 96 S. Korea) which were picked up by Ukrainian buyer, Vista Shipping, for a price of $ 12.5m and $ 8.0m respectively.
New building (Wet: Firm+ / Dry: Firm+)
Activity on the newbuilding front is keeping its pace, with the majority of the deals coming to light this past week being for dry tonnage. Although we are trying to be as realistic as possible regarding this recent boost in new building prices for dry bulkers, the truth is that most of the contracts that are being inked lately are steadily done on firmer and firmer prices, creating a higher market average for almost all sizes in the sector.
Some of the most recently reported orders for Capes are displaying a clear trend that we should be soon moving into the mid $ 50s million territory for the segment, having us think that from that level the figure could easily jump to the $ 60.0m area, especially for earlier slots should demand continue to be strong and the freight market improve further in the next twelve months. In terms of new orders, Greek owner Alpha Tankers & Freighters was reported placing an order of four firm Capesize vessels (180,000dwt) at Hyundai Mipo, in S. Korea, for a price of $ 56.5m each and with delivery set between 2015 and 2016.
Demolition (Wet: Stable- / Dry: Stable-)
Activity in the demolition market has considerably slowed down this week. Nevertheless, this didn't have any immediate impact on prices, which remained stable across the board. As it has been happening lately, cash buyers have managed to conclude a small number of deals above market for yet another week, distorting again the image of the actual bids that are being offered on average in the Indian sub-Continent. At the same time the Indian Rupee seems to have stabilized and it's seems that this will continue to be the case at least for the short term.
Pakistan has returned from inactivity this past week, despite the holidays still taking place, scrapping a VL and at a price around 20 $/ldt higher than what is the current level for wet tonnage over there. Demand for demo candidates has remained pretty much non-existent in the Far East, with Chinese yards seeming unable to attract owners’ interest after the price gap with the rest of the breakers nations has widened again. Average prices this week for wet tonnage were at around 360-425$/ldt and dry units received about 350-410$/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, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- The University of Queensland
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Marubeni Corporation - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
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