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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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Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Australian Coal Association
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
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