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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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Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- PTC India Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
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