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Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both Capes and Panamaxes was only partly offset by the stable performance of Supras and Handies.
The BDI closed today (29/10/2013) at 1,551 points, down by 68 points compared to Monday’s levels (28/10/2013) and a decrease of 296 points com-pared to the previous Tuesday’s levels (22/10/2013). Weak activity in the North Sea pushed Afra rates down, while the rest of the crude carriers market moved up, with sentiment improving considerably. The BDTI Monday (28/10/2013), was at 599 points, a decrease of 22 points and the BCTI at 484, a decrease of 14 points compared to the previous Mon-day’s levels (21/10/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
The SnP market has maintained the good volumes of activity that we have been seeing lately.
Irrespective of any volatility that might be witnessed by freight rates in the short term, we expect an active Q4 in terms of second hand sales as more owners appear ready to bet on a market recovery being noted over the next couple of years. On the tankers side, we had the sale of the “CHAMPION PEACE” (106,042dwt-blt 99, Japan), which was picked up by S. Korean buyer Sinokor for a price of US$ 11.0m. On the dry bulker side, we had the sale of the “HOUHENG 3” (179,895dwt-blt 12 Philippines) which was picked up by Greek buyers for a price of $ 52.0m.
New building (Wet: Stable+ / Dry: Stable+)
Despite firm interest for new orders continuing to hold for yet another week, shipyards are still holding a reserved optimism for the future prospects, while continuing to squeeze the most out of this most recent opportunity, rather than making grand plans for capacity expansion. We have already seen shipbuilders purposely contain the number of slots they have available focusing on efficiency, as such, leaving the market with almost no slots with delivery within the next 12-18 months. At the same time there has been a constant and significant rise in the prices being quoted, especially for the more popular dry bulk vessel designs. It is interesting to note that we have seen a considerable price increase of between 5-11% amongst dry bulk slots over the past four months alone, while tankers have only noted a 1-4% rise during the same period. In terms of new orders, Greek owner Golden Union, was reported exercising options for two Capesize vessels (180,000dwt) at Hanjin in Philip-pines, for a price of $ 54.5m each and with delivery towards the end of 2015.
Demolition (Wet: Stable+ / Dry: Stable-)
The demolition scene continues to face slow activity. The short list of deals that were reported this past week doesn’t include neither India nor Bangladesh, as breakers in both these countries seem to be sitting in the sidelines at the moment. In India it appears that cash buyers who managed to secure tonnage during the previous weeks are currently assessing whether this was a good move, as the sentiment is not as strong as it has been in the beginning of the month. Pakistan on the other hand has secured another VL, after the 95 built DELOS the week prior, proving that for the “right” tonnage local breakers are still pre-pared to pay the extra premium. In the East, Chinese breaking yards have lowered their bids even further this week, being less and less ap-pealing for owners of demo candidates that are ballasting in the region, as the trip towards the Indian sub-Continent is still very much worth the trouble. Average prices this week for wet tonnage were at around 350-425$/ldt and dry units received about 340-410$/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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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