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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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- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Australian Coal Association
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
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