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