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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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Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
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- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
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