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Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down before the holidays. The BDI closed yesterday (23/12/2013) at 2,247 points, up by 39 points compared to Friday’s levels (20/12/2013) and a decrease of 45 points compared to previous Monday’s levels (16/12/2013). The Suezmax market continued the pre-Christmas rally, on the back of very strong demand ex-Waf, while rates for VLs noted small decreases. The BDTI Friday (20/12/2013), was at 932 points, an increase of 109 points and the BCTI at 628, a decrease of 4 points compared to the previous Friday’s levels (13/12/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+ )
SnP activity slowed down a bit, with bulkers gaining most of the buying interest. On the tankers side, we had the sale of the “ALGECIRAS SPIRIT” (160,250dwt-blt 00, S. Korea), which was picked up by Greek buyers, for a price of US$ 17.9m. On the dry bulker side, we had the en-bloc sale of the “STX JINHAE 1621” (82,000dwt-blt 13 S. Korea) and the “STX JINHAE 1624” (82,000dwt-blt 14 S. Korea), which were picked up for a price of $ 31.3m and $ 32.6m respectively.
New building (Wet: Firm+ / Dry: Stable+ )
The new building market has undoubtedly offered the big surprise this year in terms of orders placed. Despite the fact that at times freight rates for both the dry and wet market were not supportive of a bet on additional orders, those who could get access to finance, appear to have made the right choice as prices have climbed on every single sector across the board. Chinese builders have attracted the bigger chunk of orders placed in 2013 on the back of offering attracting financing in times when there was nothing particularly attracting about placing an order. In an effort of reforming the shipbuilding altogether, the Ministry of Industry and Information Technology of China has recently announced a list of standards for enterprises involved in the domestic industry, which will come in effect in 2014 in order to ensure that local shipbuilders comply with certain conditions related to technologies, environment protection, energy saving, safety and so on and make those who don’t face stricter policies. In terms of new orders, Greek owner, Capital Maritime, exercised options for two MRs (52,000dwt) at Samsung Ningbo, in China, for a price of $ 32.8m each and with delivery set in 2016.
Demolition (Wet: Firm+ / Dry: Firm+ )
What the demolition market was hoping for, is finally taking place just as 2013 is about to set. Prices this week have moved further up, with a variety of reasons causing this latest sub-Continent surge. With the Indian currency continuing to display a very stable image for yet another week and local steel prices finding further support, bids coming out of the country have firmed once more, allowing for cash buyers to taste another big wave of excitement, as those who bet on price increases a couple of months back, when the market was under a lot of pressure, are now being rewarded. At the same time, Pakistani breakers were encouraged by their currency stabilizing as well, to also increase their bids so as not to be left behind the competition, while the lack of demo candidates has pushed Bangladeshi breakers to also increase their offers despite the political unrest continuing in the country. Further lack of activity in China has now pushed the gap between local yards and the sub-Continent to over 100$/ldt. Average prices this week for wet tonnage were at around 345-450$/ldt and dry units received about 335-433$/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, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
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 ...
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- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- The University of Queensland
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Edison Trading Spa - Italy
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
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