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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, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
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- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Planning Commission, India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
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