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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
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