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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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Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
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- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Parliament of New Zealand
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
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