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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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Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
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- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Central Electricity Authority - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
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