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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, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- The University of Queensland
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- PTC India Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
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