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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, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- VISA Power Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
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