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