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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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