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