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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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Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
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