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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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- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Planning Commission, India
- Latin American Coal - Colombia
- The University of Queensland
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