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Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
 The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecting to see, since the government has been actively supporting the country’s shift to using cleaner energy resources. Australia is currently the major producer who suffers from this slowdown of Chinese imports; however the land Down Under still remains the main supplier of coking coal for China.
During the first quarter of the year, the total import of coking coal was 10.92 mil mt, a figure that represents a drop of 16% compare to the last quarter of 2014. It is worth mentioning that the imported quantity during March was reduced by 21% compared to the same month last year and 26% compared to February 2015.
On the other hand, according with China’s custom reports, China imported 80.51 mil mt of Iron Ore in March 2015 which is a substantial increase of 8.85% compared to last month. In total, China imported 23mil mt of Iron ore during the first quarter of the year, which is higher by 2.4% compared to the same quarter in 2014. Despite this uptrend in iron ore imports fundamentals still remain somewhat challenging for the trade, as demand of steel in the local market is still not meeting expectations of a healthy market with end users still lacking positive sentiment for the market going forward, which in turn translates into cautious purchasing.
Together with the above negative prospects comes the poor freight market of the last six months, which drove many Chinese Ship Owners to divert their interest from mid 90’s Panamax vessels to smaller tonnages and especially to mid 90’s Handymaxes. That new demand came together with some Middle East interest, which managed to raise this specific market around 10%. According to the last done, a Japanese 95 blt Handymax with SS/DD due should be in the region of USD 4.25mil, while a couple of months ago it was reported at around USD 3.8mil.
On the other hand in the mid – high 90’s Panamaxes every last done comes in lower levels than the previous one. It is worth mentioning, that Panamax tonnages presently circulating in the market, are significant more than any other dry bulk size segment and their price ideas are related to their demo value plus some premium always depending on the exact age of the ship.
For the younger/modern Panamax/Kamsarmax tonnages, activity remains high with many Greek buyers inspecting/offering, however most Sellers, especially Japanese, are still holding back as they are not considering the low levels they see, expecting an improved market in the near future, which hopefully will come soon on the back of this extended period of poor freight rates ending.
Since our Shanghai office always tries to maintain a positive thinking and focus on the positive aspects of life no matter what is happening in the market, we would like to conclude this report giving our Warmest Wishes, to our Shanghai colleague Yonan Wang and to our Athens’ colleague Konstantinos Kontomichis as they are both getting married this weekend.
By Shanghai Office SnP Team
Intermodal
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
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.
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Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
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