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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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Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
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