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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, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those fo ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
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- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
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