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Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those for the smaller size segments firming further. The BDI closed today (19/11/2013) at 1,495 points, down by 5 points compared to Monday’s levels (18/11/2013) and a decrease of 57 points compared to previous Tuesday’s levels (12/11/2013). The VL market has gained strength for yet another week, with enquiries ex-MEG sustaining their strong volumes and owners holding the upper hand firmly in the presence of tighter tonnage lists in the region. The BDTI Monday (18/11/2013), was at 647 points, an increase of 12 points and the BCTI at 498, an increase of 6 points compared to the previous Monday’s levels (11/11/2013)
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
This past week container vessels had a strong presence within the list of reported SnP deals, with a couple of a-list owners betting on the sector through big en-bloc deals. On the tankers side, we had the sale of the “SHINYO NAVIGATOR” (300,549dwt-blt 96, S. Korea), which was picked up for a price of US$ 22.0m. On the dry bulker side, we had the sale of the “GRAND DIVA” (76,596dwt-blt 07 Japan) which was picked up by Greek buyers for a price of $ 21.1m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
While both the volume of newbuilding orders and prices continue to climb, it seems that the Chinese government is set to further support its shipbuilding industry, by enforcing a plan that has been considered for quite a while now by officials in the country. The main measure involves a 20% subsidy off Chinese newbuildings, to those owners who decide to also scrap a vessel of fifteen years of age or older. The subsidies, the total amount of which is estimated at around US $ 750.0m, are rumored to be made available around the end of this year and beginning of 2014 and the program is set to last for two years. This is the type of measure that boosts the local shipbuilding industry without necessarily sacrificing a healthy, in terms of tonnage, market. This measure will be of great help to all these private Chinese yards that have been struggling to stay in business, but at the same time we can’t help but wonder whether this is another way to “kick the can down the road” on a sector that over-expanded to begin with. In terms of new orders, Singaporean owner Navig8 was reported signing contracts for two firm plus two optional VLCCs (300,000dwt) at Hyundai in S. Korea, for a price of $ 92.0m each and with delivery set between 2015 and 2016.
Demolition (Wet: Stable+ / Dry: Stable+ )
While the volume of activity in the demolition market is still very far from the levels we would like to see, it is at least hopeful that prices haven't turned south again. Saying that, the weakness displayed by the Indian Rupee against the US dollar in the beginning of this past week has been quite unnerving, considering the volatility of the exchange rate during the past months. The currency has nonetheless managed to stabilize and rebound mid-week onwards, fact mainly attributed to the country’s Finance Minister pledge that both the current account and fiscal deficit goals will be met this year, which ultimately helped local demo prices to hold their levels. At the same time Bangladesh, partly taking advantage local steel prices heading north, managed to emerge as the strongest link in the demo scene of last week, with local breakers managing to snap vessels from the competition by bidding at some ludicrous levels, while Pakistan remained at the sidelines dealing with weakening currency issues itself. Average prices this week for wet tonnage were at around 345-435$/ldt and dry units received about 335-420$/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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Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
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- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Planning Commission, India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
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