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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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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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