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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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Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
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- Electricity Generating Authority of Thailand
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- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Australian Coal Association
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
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- Africa Commodities Group - South Africa
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- Siam City Cement - Thailand
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- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
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- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
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- The State Trading Corporation of India Ltd
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- Eastern Coal Council - USA
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- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
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- Goldman Sachs - Singapore
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- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Indika Energy - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Chamber of Mines of South Africa
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