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