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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Minerals Council of Australia
- McConnell Dowell - Australia
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