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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
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