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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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Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
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