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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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- The University of Queensland
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
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