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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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- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
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