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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, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- White Energy Company Limited
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
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