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