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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- PTC India Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- White Energy Company Limited
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
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