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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.
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Thursday, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
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