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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
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