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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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Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- MS Steel International - UAE
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
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