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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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Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
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