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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the back of improving fundamentals. The market's benchmark, the Baltic Dry Index (BDI) had been on a steady path of declines since the beginning of the year, effectively erasing the rally of the last few months of 2013, which brought back the smiles among ship owners. As such, the latest reversal of fortunes, if sustainable, will bring back optimism. Yesterday, the BDI managed to recover part of the loss, rising by 24 points to 1,398, on the back of a halt of declines the day before that. The main reason for the latest positive development was the rise of the Capesize segment, with the Baltic Capesize Index (BCI) increasing by 67 points to reach 1,929.
According to the latest weekly report from shipbroker Fearnley's, commenting on the Capesize sector, mentioned that "the first half of the week saw the cape indices continue to plummet in particular the C9 TA index, which lost a whopping $30k w-o-w, as Drummond Co. declared force majeure on its coal shipments from Colombia after the U.S. mining company failed to complete on time a port upgrade. The Pacific remains oversupplied and Australian ore miners remain relatively quiet deals concluded between $7.10 and $7.50 range at time of writing. Wednesday has seen a slight uptick on Tub/China rates with the prevailing rate back over the $20 pmt mark. It is noticeable that the inverse to spot has narrowed to almost par (Spot at 12888, Feb trading at 12750) and the curve maintains its strong contango with Q2 trading $15500, Q3 at $20500, and Q4 at $26500. Notable period deals include a 180k dwt vessel with decent speed and consumptions fixing for 1 year at index with a 5% premium".
Meanwhile, in the Panamax market, Fearnley's noted that "the gap between spot and period has increased in both hemispheres. The underlying optimism has been supported by a rising forward curve and major grain houses picking short period and 1-year candidates in Pacific. Owners achieve healthy 14k + del Pacific and above 15k from PMO for 1 year not all that bad considering BPI average 2013 tick above 9700. Mid week, activity in Pacific did show signs of improvement. However, now an increasing que of available tonnage are facing APS rates under 10k for Indo rounds. Strong winter in North Atlantic adding nice premium to brave Owners able to breach INL or move into ice conditions. Otherwise Atlantic seems a bit under pressure for prompt tonnage, fixing mid teens. Fronthaul in a turning point - up from about 23,500".
Finally, in the Handy markets, "in the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upward trend while the rest of the trades are all sliding south. Yet another quiet week in Feast and we expect same trend up to the holidays. There are number of ships open in N.China struggling to find business. Even ships in the south have been laying spot for several days. Vsls open North China are talking USD 6k for Indo-S.China rounds. The trips to India are being fixed on an APS+BB basis and rates are hovering around USD 8k+80k. WCI/MEG and South Africa rates remain firm with a shortage of available tonnage", Fearnley's concluded.
In its latest forecast, BIMCO noted that it expects dry bulk demand to grow at 4.5 to 6%, driven forward by the major bulk trades: iron ore, steam coal and coking coal, with grain in a supporting role. China remains in the driving seat, a scenario that will benefit the larger ships more than the smaller ones. "Following a rather uneventful first half of 2013, July and August were on fire, one that raged through September and October bringing Capesize rates north of USD 42,000 per day. Expanding Chinese steel production and restocking of iron ore were at the centre of the action. In 2014 and beyond, the economic and social progress in the main developing nations that seek inexpensive energy and prosperity will set the tone and affect shipping demand positively. Volatility is likely to rise as the market balance improves. Positive demand shocks will benefit owners and operators to a higher extent than in previous years. The significant oversupply of dry bulk tonnage will, however, influence the pace of the recovery as will the deliveries that follow on from the many newbuilding contracts signed during 2013", BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- The University of Queensland
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
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