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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, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
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- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Planning Commission, India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
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