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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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Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
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- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- The University of Queensland
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Planning Commission, India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
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