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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, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- The University of Queensland
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
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