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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, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
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