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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 another downward session, which saw its fall down to 936 points, minus 34 points on the day. Capesizes were once again among the main "losers", with the Baltic Capesize Index (BCI) down by 111 points. Panamaxes on the other hand had an upward session, up by 15 points, but they had already reached new year lows over the past few weeks. According to the latest weekly report from shipbroker Intermodal, "the dry bulk market is still unable to react to the pressure that has been building up as of the end of March, while the holidays this week should impede any significant improvement.
Meanwhile, the newbuilding market has been on "afterburner" mode over the past few weeks. According to Intermodal, "the newbuilding market still faces levelling prices, while interest has somewhat bounced off the lows that we have been witnessing during the past weeks. Saying that, we don’t expect any booming in orders anytime soon with the conditions prevailing in the market at the moment. There are a number of voices that support that newbuilding prices will note a substantial increase this year round, as they did in 2013 but we don’t see that being possible unless there is a substantial reversal in the performance of the freight rate market and subsequently the market psychology. But even if prices don’t increase substantially and the market continues to fare at low levels, we don’t see any decreases happening either. The truth is that most of the yards, and certainly all the a-list ones have covered all or a very substantial part of their slots, which means that they are now dealing with healthier cash flows and much less pressure than what they did a year ago when they had to offer big discounts to attract interest. In terms of new orders, Singaporean owner Navig8 has returned to Hyundai in S. Korea, to place an order for a pair of VLCCs (320,000dwt), for a reported price of $ 102.0m each and delivery set for 2016", said the Piraeus-based shipbroker.
On a similar note, Clarkson Hellas said in its latest newbuilding report that "in dry, it is understood that Golden Union have declared options for three further 81,200 DWT Kamsarmax at AVIC Weihai Shipyard for deliveries throughout 2016 and 2017 to add to their existing two units currently under construction. Clients of Sealink Navigation have contracted two firm 63,000 DWT Ultramax with Imabari Shipbuilding in Japan for deliveries in 2016 for the first unit and in 2017 for the second. Also, although understood to have been signed last month, it came to light this week that they have also placed an order for two firm 34,000 DWT bulk carriers at Namura Shipbuilding which are due to deliver in 3Q 2015.
Further orders in the VLCC sector to report this week, with clients of Transportation Recovery Fund (TRF) contracting two firm 320,000 DWT crude carriers at Hanjin’s Subic yard in the Philippines. Delivery is planned in 4Q 2016 and 1Q 2017. A single order to report in the container market, with Arkas Container Transport contracting two firm plus two option 2,500 TEU container carriers with Zhejiang Ouhua in China. No price was disclosed, but it is understood that the deliveries will be in 4Q 2016 for the first unit whilst the rest will be in 2017. Bremen based Zeaborn declared their options for further four 12,500 DWT MPPs at Taizhou Sanfu for delivery in 2016 and 2017. The German shipping company already have six units of the same type on order at Sanfu, and also have six firm plus four option 12,000 DWT MPPs at Sainty Marine in China", Clarkson Hellas concluded.
Finally, on the demolition front, Intermodal noted that "forget the disappointments elsewhere; the demolition market remains the bright spot of the industry for yet another week. While the Indian Rupee continues to display strength against the US Dollar it seems that those high levels we have been seeing lately may be sustained for a little while longer. This past week, bids coming from both Pakistan and India have increased further, while the rest of the competition remained numb, with prices in Bangladesh actually softening. Despite no particular developments in the country that could have an adverse effect on prices, it seems that demand has yet to reach satisfactory levels. Elsewhere things remain quiet, with China watching the gap between local and Indian Sub-Continent prices having widened so much that even locally positioned demo candidates can’t find the Chinese demo market attractive. Average prices this week for wet tonnage were at around 320-500$/ldt and dry units received about 310-490$/ldt", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
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- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Economic Council, Georgia
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