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