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