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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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Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
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