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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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Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
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