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