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