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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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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 ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
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