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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Bangladesh Power Developement Board
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Australian Coal Association
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
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