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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, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
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