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Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
 One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in the market too, or hoped for at least a small positive correction, however, so far, it seems that this is not something that will happen anytime soon.
While the freight market for dry bulkers still remains weak, additional issues are weighing on rates as well; one of them being the recently reported difficulties faced by most of the top Shandong Soybean importers to obtain L/Cs from the banks, which drove them to cancel a number of contracts. It is also worth mentioning that, together with them, other private coal traders based in Guangdong seem to be facing similar difficulties in concluding import contracts as well.
The poor freight market has also been quickly affecting the activity in the SnP market, as compared to the last months we see less and less Buyers interested in acquiring second hand tonnage. At the same time, the few Buyers that are still inspecting are offering well below the levels of the last done sales. As a result, they either push Sellers to withdraw their ships from the market altogether or invite interested parties to a second round of inspections at a later port call, hopping to gain some time before the market starts improving again.
A good example of the above, is a Japanese controlled 2002 Imabari built Panamax vessel, which was on the market for sale, however rumours are saying that only two parties proceeded with an inspection and that the figures they offered were not even close to Sellers ideas, so Owners decided to keep her on the market and invite a second round of inspections. A similar case is that of a 2002 built Handymax , which was reported sold last week; however we understand that the vessel still remains free and Owners are once again inviting inspections at the next port call.
A similar case of downward pointing prices is also being witnessed in the resale market, where Owners, who had contracted their ships sometime during the beginning of 2013 at fairly low levels (compared to recent deals), tried to get advantage from the firming prices of the last months by selling their tonnage. As a result we witnessed an overwhelming amount of resale tonnage in the market, even by top quality shipyards, which caused an inevitable oversupply especially as Buyers started to step back from further purchases.
In the new building market we are seeing some slots opening, as it seems that certain Buyers didn't exercise their options, but these are only a few, especially for reputable shipyards, and new building prices currently appear fairly shielded by the bad performance of the market at this stage.
Unfortunately for Sellers, today’s market is not very promising and it seems that, if they do remain Sellers, they will have to compromise and drop their ideas, so that the sale price conforms to the current freight environment. On the other hand, if you are a Buyer today, this could possibly be the correction you have been waiting for to help you get back in the game before another round of firming second hand prices washes over the market 2013 style…
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Australian Coal Association
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
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