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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, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
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