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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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Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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