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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, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Planning Commission, India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
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