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Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down before the holidays. The BDI closed yesterday (23/12/2013) at 2,247 points, up by 39 points compared to Friday’s levels (20/12/2013) and a decrease of 45 points compared to previous Monday’s levels (16/12/2013). The Suezmax market continued the pre-Christmas rally, on the back of very strong demand ex-Waf, while rates for VLs noted small decreases. The BDTI Friday (20/12/2013), was at 932 points, an increase of 109 points and the BCTI at 628, a decrease of 4 points compared to the previous Friday’s levels (13/12/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
SnP activity slowed down a bit, with bulkers gaining most of the buying interest. On the tankers side, we had the sale of the “ALGECIRAS SPIRIT” (160,250dwt-blt 00, S. Korea), which was picked up by Greek buyers, for a price of US$ 17.9m. On the dry bulker side, we had the en-bloc sale of the “STX JINHAE 1621” (82,000dwt-blt 13 S. Korea) and the “STX JINHAE 1624” (82,000dwt-blt 14 S. Korea), which were picked up for a price of $ 31.3m and $ 32.6m respectively.
New building (Wet: Firm+ / Dry: Stable+ )
The new building market has undoubtedly offered the big surprise this year in terms of orders placed. Despite the fact that at times freight rates for both the dry and wet market were not supportive of a bet on additional orders, those who could get access to finance, appear to have made the right choice as prices have climbed on every single sector across the board. Chinese builders have attracted the bigger chunk of orders placed in 2013 on the back of offering attracting financing in times when there was nothing particularly attracting about placing an order. In an effort of reforming the shipbuilding altogether, the Ministry of Industry and Information Technology of China has recently announced a list of standards for enterprises involved in the domestic industry, which will come in effect in 2014 in order to ensure that local shipbuilders comply with certain conditions related to technologies, environment protection, energy saving, safety and so on and make those who don’t face stricter policies. In terms of new orders, Greek owner, Capital Maritime, exercised options for two MRs (52,000dwt) at Samsung Ningbo, in China, for a price of $ 32.8m each and with delivery set in 2016.
Demolition (Wet: Firm+ / Dry: Firm+ )
What the demolition market was hoping for, is finally taking place just as 2013 is about to set. Prices this week have moved further up, with a variety of reasons causing this latest sub-Continent surge. With the Indian currency continuing to display a very stable image for yet another week and local steel prices finding further support, bids coming out of the country have firmed once more, allowing for cash buyers to taste another big wave of excitement, as those who bet on price increases a couple of months back, when the market was under a lot of pressure, are now being rewarded. At the same time, Pakistani breakers were encouraged by their currency stabilizing as well, to also increase their bids so as not to be left behind the competition, while the lack of demo candidates has pushed Bangladeshi breakers to also increase their offers despite the political unrest continuing in the country. Further lack of activity in China has now pushed the gap between local yards and the sub-Continent to over 100$/ldt. Average prices this week for wet tonnage were at around 345-450$/ldt and dry units received about 335-433$/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, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
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 ...
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- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Planning Commission, India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
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