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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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Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
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