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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- PTC India Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
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