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Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchmark, the Baltic Dry Index stood yesterday at 1,960 points, having shedded just five points over the previous session. The biggest gainer was the Supramax market, with the respective index rising by 87 points to reach 1,206. The Capesize market was down by 27 points to 3,451 (Baltic Capesize Index). As far as the Panamax market was concerned, the Baltic Panamax Index was up by 29 points.
In a report this week, shipbroker Fearnleys noted on the Capesize market that "a slow start to the week with holidays around in Far East, but in spite of this, rates are again moving upwards. West Australia to China, having been the main driver in the Pacific market for some time now, is presently in mid/upper 11s. Fronthaul is more or less none existing and back haul cargoes can be developed, but not at rates attractive to owners time being. Period market is not too active, as owners remain optimistic expecting rates to improve further and rates their ships accordingly", it said.
On the Panamax market, Fearnleys noted that "some holidays early week led to low activity with a firm undertone in the Atlantic and slightly negative trend in the Eastern Hemisphere. Charterers have had to pay up for prompt orders in the North Atlantic, from 18k and even well above 20k for short runs, whereas regular T/A´s from Med hovers in the 18k range. The Atlantic still seems to be tight for tonnage with a fair flow of requirements to be covered before the winter season kicks in. Fronthaul fixtures at very high 20´s. A bigger spread on levels in the Far East as most players where in a standoff mode early in the week. Rounds done from 15k up to 20k depending on duration, spec´s and delivery. Nopac rounds falling from 17k mid-week. Period business limited, but supported by a gradually positive forward curve 1-year has been concluded at 13k delivery Far East and well above 16 with Atlantic delivery", it said.
Finally, in the Handy markets, "activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Singapore via Indo to China also ECI. Nopac round were fixed mid USD 12k and around USD 12k for short period. There were several public holidays so just limited fresh inquiries in the market this week. While there are a hundred of ships expected to open in north China. ECI lack of cargoes therefor vessels are ballasting to Spore more. However, have seen S.Afr coming firm with rate over 10k+400k gbb for trip to Feast", Fearnleys concluded.
Meanwhile, the future of the market and more importantly the latest rally's longevity will depend, in part, by the rate of demolition activity. According to shipbroker's Golden Destiny latest report said that the demolition market "has finally turned into positive with India recovering from its serious currency issues and the losses in steel prices. Bangladesh also follows with a rebound in steel prices by competing hard with Alang shipbreakers, while. Pakistan seems to have been left behind as it has still issues with its Rupee. Benchmark scrap prices in India subcontinent region are now up by $25-$35/ldt from the end of August for dry and wet cargo.
In China, benchmark scrap prices are still holding firm from the end of August, by standing at $35-$45/ldt lower levels than the prices in Indian subcontinent region for dry/general cargo and $50-$60/ldt lower levels for wet cargo. The Chinese National Holidays during the first week of October brought little action with one handysize bulker emerged for disposal in China at this week, M/V “WELLY II” of 10,308ldt built 1982 for about $365/ldt", Golden Destiny said.
According to the shipbroker "demolition activity (in terms of reported number of transactions): 20% down week-on-week showing 150% and 100%weekly increase in the volume of tanker and container disposals respectively, with 13% weekly decline in bulker disposals and 80% weekly decline in liner disposals.
The largest activity is recorded in the bulk carrier and tanker segments by holding 44% and 31% share respectively of the total demolition activity, against 13% share from liners.
In terms of deadweight sent for scrap, there has been 33% weekly increase with some scrapping activity in large vessel size categories, 1 aframax tanker, 1 panamax bulker and 1 small panamax container reported for disposal.
India is reportedly to have won 9 of the 16 demolition transactions, Bangladesh 3, Pakistan 1, China 1, Turkey 1, 1 vessel disposal reported at an undisclosed destination.
Benchmark scrap prices in the Indian subcontinent region: $385-$395/ldt for dry and $415-$425/ldt for wet cargo. Scrap prices in China hover at $350/ldt for dry and $365/ldt for wet cargo. At a similar week in 2012, demolition activity was up by 31%, in terms of the reported number of transactions, when 21 vessels had been reported for scrap of total deadweight 1,173,447 tons with 13 disposals for bulkers, 3 for tankers, 3 for containers and 2 reefers. Ship-breakers in Indian subcontinent region had been offering $405-$410/ldt for dry and $435-$440/ldt for wet cargo" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
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