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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, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
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- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
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