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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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Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
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- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
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