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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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