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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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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
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