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Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
 Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, especially for the larger Capesize vessels, are still holding at relatively good levels. The BDI closed today (07/01/2014) at 1,876 points, down by 75 points compared to yesterday’s levels (06/01/2014) and a decrease of 401 points compared to the pre-Christmas closing (24/12/2013). The tanker market was a touch softer these past couple of days. Nevertheless, this small correction is relatively minor compared to the rally seen during the last days of 2013. The BDTI Friday (06/01/2014), was at 1,006 points, an increase of 9 points and the BCTI at 607, a decrease of 9 points compared to the pre-Christmas closing (24/12/2013).
Sale & Purchase (Wet: Firm+ / Dry: Firm+ )
Despite much of the industry being distracted by the Holiday festivities, a number of owners took this perfect opportunity to swoop in and act, securing a number of vessels before the market strengthens any further as they believe. Prices as such witnessed a further increase during these past two weeks, and although are still on the low end compared to their most recent historical levels, they are now at well above (on average +30% Y-O-Y gain) the absolute lows of early 2013. On the tankers side, we had the enbloc sale of the “VALCONE” (109,060dwt-blt 09, China) and “VALPIAVE” (109,060dwt-blt 10, China) which were reported sold for a price of US$ 28.0m each. On the dry bulker side, we had the sale of the “ST. ANDREW” (82,000dwt-blt 13 S. Korea) which was picked up for a price of $ 6.8m.
New building (Wet: Firm+ / Dry: Firm+ )
Despite many yards having relaxed their marketing activity as they closed off the year, there was still significant interest amongst several buyers allowing for further deals to emerge over the Christmas break. The New Year now seems to be on a good foot and as prompt delivery seems to no longer be an option for most of the top tier yards, this seems to serve as a further market catalyst, propelling both interest and in turn prices for new building orders. What’s even more notable from this most recent rise in prices is that you are currently paying a significant premium to what you would have played a year back and in turn you receive a longer wait until delivery. This is what most owners had been fearing while, it is also what has helped prime prices for resale units and in turn prices for very modern second-hand vessels. In terms of new orders, Russia’s Yamal LNG, handing over a tender for 16 ice-class LNG carriers(170,000cbm) to Daewoo of S. Korea, for a reported price of $ 300.0m each.
Demolition (Wet: Softer- / Dry: Softer-)
Despite the intense competition and further price hikes that we witnessed during the last month of 2013, things seemed to slow down as we switched over to the New Year. Both the Bangladesh and Pakistan market lost their strong foothold and firm prices leaving Indian breakers with a chance to secure high profile tonnage with less competition and at slightly softer prices to what they probably would have paid around a month prior. Only China was looking to hold firm despite having not seen any significant activity in terms of deals concluded. There is still a significant gap between China and the Indian Sub-Continent, something which now looks to likely hold for the upcoming months as well. Average prices this week for wet tonnage were at around 350-445$/ldt and dry units received about 340-430$/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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
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