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