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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
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