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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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Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Parliament of New Zealand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
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