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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, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
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