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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, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
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