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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, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: 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 ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
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