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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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Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
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- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
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