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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, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
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- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
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