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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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Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
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- Planning Commission, India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
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