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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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Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Wilmar Investment Holdings
- PTC India Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
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