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Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
 Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, especially for the larger Capesize vessels, are still holding at relatively good levels. The BDI closed today (07/01/2014) at 1,876 points, down by 75 points compared to yesterday’s levels (06/01/2014) and a decrease of 401 points compared to the pre-Christmas closing (24/12/2013). The tanker market was a touch softer these past couple of days. Nevertheless, this small correction is relatively minor compared to the rally seen during the last days of 2013. The BDTI Friday (06/01/2014), was at 1,006 points, an increase of 9 points and the BCTI at 607, a decrease of 9 points compared to the pre-Christmas closing (24/12/2013).
Sale & Purchase (Wet: Firm+ / Dry: Firm+ )
Despite much of the industry being distracted by the Holiday festivities, a number of owners took this perfect opportunity to swoop in and act, securing a number of vessels before the market strengthens any further as they believe. Prices as such witnessed a further increase during these past two weeks, and although are still on the low end compared to their most recent historical levels, they are now at well above (on average +30% Y-O-Y gain) the absolute lows of early 2013. On the tankers side, we had the enbloc sale of the “VALCONE” (109,060dwt-blt 09, China) and “VALPIAVE” (109,060dwt-blt 10, China) which were reported sold for a price of US$ 28.0m each. On the dry bulker side, we had the sale of the “ST. ANDREW” (82,000dwt-blt 13 S. Korea) which was picked up for a price of $ 6.8m.
New building (Wet: Firm+ / Dry: Firm+ )
Despite many yards having relaxed their marketing activity as they closed off the year, there was still significant interest amongst several buyers allowing for further deals to emerge over the Christmas break. The New Year now seems to be on a good foot and as prompt delivery seems to no longer be an option for most of the top tier yards, this seems to serve as a further market catalyst, propelling both interest and in turn prices for new building orders. What’s even more notable from this most recent rise in prices is that you are currently paying a significant premium to what you would have played a year back and in turn you receive a longer wait until delivery. This is what most owners had been fearing while, it is also what has helped prime prices for resale units and in turn prices for very modern second-hand vessels. In terms of new orders, Russia’s Yamal LNG, handing over a tender for 16 ice-class LNG carriers(170,000cbm) to Daewoo of S. Korea, for a reported price of $ 300.0m each.
Demolition (Wet: Softer- / Dry: Softer-)
Despite the intense competition and further price hikes that we witnessed during the last month of 2013, things seemed to slow down as we switched over to the New Year. Both the Bangladesh and Pakistan market lost their strong foothold and firm prices leaving Indian breakers with a chance to secure high profile tonnage with less competition and at slightly softer prices to what they probably would have paid around a month prior. Only China was looking to hold firm despite having not seen any significant activity in terms of deals concluded. There is still a significant gap between China and the Indian Sub-Continent, something which now looks to likely hold for the upcoming months as well. Average prices this week for wet tonnage were at around 350-445$/ldt and dry units received about 340-430$/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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
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