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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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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- Makarim & Taira - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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