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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, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
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- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
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