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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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Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
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