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