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