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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bhatia International Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
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