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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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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
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- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- The University of Queensland
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
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