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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, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
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