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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, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
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