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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- PTC India Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
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