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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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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
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