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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 for some of their recent losses. The BDI closed today (12/11/2013) at 1,543 points, down by 21 points compared to Monday’s levels (11/11/2013) and a decrease of 57 points compared to previous Tuesday’s levels (05/11/2013). The crude oil carriers market continues to firm, with rates for VLs witnessing another week of impressive gains on the back of strong Far East demand. The BDTI Monday (11/11/2013), was at 635 points, an increase of 27 points and the BCTI at 492, an increase of 1 point compared to the previous Monday’s levels (04/11/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
SnP activity considerably picked up this week with VL deals holding the lion’s share amongst dry and wet segments. On the tankers side, we had the sale of the “BLUE OPAL” (317,000dwt-blt 12, S. Korea), which was picked up by Navios for a price of US$ 83.0m. On the dry bulker side, we had the sale of the “PERLY” (77,830dwt-blt 02 Japan) which was picked up for a price in excess of $ 14.0m.
New building (Wet: Stable+ / Dry: Stable+ )
As the new building order spree continues, so does the firming of prices. This past week we raised our average new building quotes for a couple of segments in the dry bulker and tanker sides. The recent performance of the VL market, new building prices of which had stalled for quite some time due to poor freight rate performance, seems bound to move upwards as strengthening demand from the East has been supporting rates for more than two months straight. Improving freights has also been witnessed by Supras, the average price of which should now stand well above the $ 26.0m level for a new building unit. The increased interest of buyers in those but other segments of both dry bulkers and tankers seems that is now pushing owners who appear to be in a hurry to secure a slot to even smaller yards, which appear willing to satisfy that extra demand. This is definitely good for builders but is it for the market itself? The question is of course rhetorical as we will need further months of good performance in hires to fully support the current rate of ordering. In terms of new orders, Norwegian owner Jo Tankers was reported signing contracts for eight firm chemical parcel tankers (33,000dwt) at New Times in China, for a price of $ 40.0m each and with delivery between 2016 and 2017.
Demolition (Wet: Stable- / Dry: Stable-)
The volume of activity in the demolition market has slightly picked up, although some of the deals reported are traced back in prior weeks. Despite the fact that interest is very much present from both the buying and the selling side, it seems that the uncertainty that has prevailed during the past months has somewhat taken its toll on both owners and breakers sentiment as both sides seems to feel a bit indecisive. From one side, breakers have been “burnt” a few times in the recent past from local steel prices and currency fluctuations, ending up with tonnage bought at sky high prices compared to where the market ended up settling. On the other hand, owners have themselves witnessed demo buyers trying to walk out of previously agreed levels once the market had turned south. This past week prices have moved sideways in the Indian sub-Continent, while remaining stable in China. Average prices this week for wet tonnage were at around 345-425$/ldt and dry units received about 335-410$/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, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
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- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
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