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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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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Planning Commission, India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- London Commodity Brokers - England
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
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