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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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Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
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- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- VISA Power Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
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