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