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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- PTC India Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
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