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