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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 for the smaller size segments firming further. The BDI closed today (19/11/2013) at 1,495 points, down by 5 points compared to Monday’s levels (18/11/2013) and a decrease of 57 points compared to previous Tuesday’s levels (12/11/2013). The VL market has gained strength for yet another week, with enquiries ex-MEG sustaining their strong volumes and owners holding the upper hand firmly in the presence of tighter tonnage lists in the region. The BDTI Monday (18/11/2013), was at 647 points, an increase of 12 points and the BCTI at 498, an increase of 6 points compared to the previous Monday’s levels (11/11/2013)
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
This past week container vessels had a strong presence within the list of reported SnP deals, with a couple of a-list owners betting on the sector through big en-bloc deals. On the tankers side, we had the sale of the “SHINYO NAVIGATOR” (300,549dwt-blt 96, S. Korea), which was picked up for a price of US$ 22.0m. On the dry bulker side, we had the sale of the “GRAND DIVA” (76,596dwt-blt 07 Japan) which was picked up by Greek buyers for a price of $ 21.1m.
Newbuilding (Wet: Stable+ / Dry: Stable+ )
While both the volume of newbuilding orders and prices continue to climb, it seems that the Chinese government is set to further support its shipbuilding industry, by enforcing a plan that has been considered for quite a while now by officials in the country. The main measure involves a 20% subsidy off Chinese newbuildings, to those owners who decide to also scrap a vessel of fifteen years of age or older. The subsidies, the total amount of which is estimated at around US $ 750.0m, are rumored to be made available around the end of this year and beginning of 2014 and the program is set to last for two years. This is the type of measure that boosts the local shipbuilding industry without necessarily sacrificing a healthy, in terms of tonnage, market. This measure will be of great help to all these private Chinese yards that have been struggling to stay in business, but at the same time we can’t help but wonder whether this is another way to “kick the can down the road” on a sector that over-expanded to begin with. In terms of new orders, Singaporean owner Navig8 was reported signing contracts for two firm plus two optional VLCCs (300,000dwt) at Hyundai in S. Korea, for a price of $ 92.0m each and with delivery set between 2015 and 2016.
Demolition (Wet: Stable+ / Dry: Stable+ )
While the volume of activity in the demolition market is still very far from the levels we would like to see, it is at least hopeful that prices haven't turned south again. Saying that, the weakness displayed by the Indian Rupee against the US dollar in the beginning of this past week has been quite unnerving, considering the volatility of the exchange rate during the past months. The currency has nonetheless managed to stabilize and rebound mid-week onwards, fact mainly attributed to the country’s Finance Minister pledge that both the current account and fiscal deficit goals will be met this year, which ultimately helped local demo prices to hold their levels. At the same time Bangladesh, partly taking advantage local steel prices heading north, managed to emerge as the strongest link in the demo scene of last week, with local breakers managing to snap vessels from the competition by bidding at some ludicrous levels, while Pakistan remained at the sidelines dealing with weakening currency issues itself. Average prices this week for wet tonnage were at around 345-435$/ldt and dry units received about 335-420$/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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Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
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