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