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