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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.
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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
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 ...
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Showing 3651 to 3655 news of total 6871 |
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- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
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