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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
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