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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, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Planning Commission, India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
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