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Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fact, the market hasn't yet experienced not even a small positive correction, as many were expecting and as it seems, it will still take sometime before something like that occurs. According to the latest report by shipbroker Intermodal, "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 company's SnP Broker, Christos Trageas added that "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 rumors 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", Trageas said.
According to Intermodal's broker, "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".
He added that "in the newbuilding 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 newbuilding 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", Mr. Trageas concluded.
In a separate note earlier, shipbroker Golden Destiny had mentioned that "threatening element for dry bulk outlook is estimations for a slower global steel demand for this year. According to the World Steel Association, global demand is expected to rise 3.1% in 2014 to 1.52bn tons - down from growth of 3.6% last year and increase slightly in 2015 by 3.3%. The WSA said Chinese demand for the commodity would rise just 3% in 2014 to 721m tons, compared with growth of 6.1% recorded last year. In 2015, Chinese demand growth is expected to slow further to 2.7%. However, demand for steel in developed economies is forecast to grow 2.5% in 2014, following a contraction of 0.3% last year. The US is forecast to make a strong recovery, with steel demand expected to grow 4% to 99.4m tons, on the back of a pick-up in construction activity and manufacturing. European demand is forecast to rise 3.1% this year, following a contraction of 0.2% in 2013", Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
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 ...
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Showing 3651 to 3655 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Central Electricity Authority - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Australian Coal Association
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
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