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Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
 One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in the market too, or hoped for at least a small positive correction, however, so far, it seems that this is not something that will happen anytime soon.
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 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 rumours 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.
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.
In the new building 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 new building 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…
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 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, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
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