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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, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
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