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Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fact, the market hasn't yet experienced not even a small positive correction, as many were expecting and as it seems, it will still take sometime before something like that occurs. According to the latest report by shipbroker Intermodal, "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 company's SnP Broker, Christos Trageas added that "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 rumors 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", Trageas said.
According to Intermodal's broker, "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".
He added that "in the newbuilding 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 newbuilding 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", Mr. Trageas concluded.
In a separate note earlier, shipbroker Golden Destiny had mentioned that "threatening element for dry bulk outlook is estimations for a slower global steel demand for this year. According to the World Steel Association, global demand is expected to rise 3.1% in 2014 to 1.52bn tons - down from growth of 3.6% last year and increase slightly in 2015 by 3.3%. The WSA said Chinese demand for the commodity would rise just 3% in 2014 to 721m tons, compared with growth of 6.1% recorded last year. In 2015, Chinese demand growth is expected to slow further to 2.7%. However, demand for steel in developed economies is forecast to grow 2.5% in 2014, following a contraction of 0.3% last year. The US is forecast to make a strong recovery, with steel demand expected to grow 4% to 99.4m tons, on the back of a pick-up in construction activity and manufacturing. European demand is forecast to rise 3.1% this year, following a contraction of 0.2% in 2013", Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
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 t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- PTC India Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
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