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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- PTC India Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Australian Coal Association
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
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