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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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- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
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