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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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Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Planning Commission, India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
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