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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.
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Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
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 fac ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
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