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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, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
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- Economic Council, Georgia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Australian Coal Association
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
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