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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, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
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- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
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