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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
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- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
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