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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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Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
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- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- The University of Queensland
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
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