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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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Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
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