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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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Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
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- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Minerals Council of Australia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
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- Indian Energy Exchange, India
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- Ministry of Transport, Egypt
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- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
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- PowerSource Philippines DevCo
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- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
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- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
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- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
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- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
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- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- MS Steel International - UAE
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- Bulk Trading Sa - Switzerland
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- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
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- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
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