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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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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
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