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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Mercator Lines Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- VISA Power Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
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