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