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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.
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, 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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- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
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