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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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- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
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