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Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in freight rates and has led the industry's benchmark, the Baltic Dry Index (BDI) to lower ground. Yesterday, the index ended with yet another decline, struggling to avert the falls, now standing at 1,271 points, down by 51 on the day. Once again, the Capesize market suffered the most, as it was down by 105 points to 1,775. Smaller declines were also evident in the remaining ship classes.
In its latest weekly report, shipbroker Fearnley's commented on the Capesize market by mentioning that there was "mixed sentiment for the big ships, as spot softens from already low levels whilst period units remain in demand and fetch solid premiums. A considerable number of ballasters combined with very limited fresh ore and coal volumes from S.Africa and Brazil gives little promise for spot levels to improve short-term. The WAust/China trade has again come to life, but only to the extent that expected daily return for such rounds does not fall much below usd 10k. With average spot value hovering around usd 12k, forward faith is well reflected in prompt 180000-tonners fetching in excess of usd 20k for 12 months".
On the Panamax market, Fearnley's noted that "this week the activity came down dramatically in both hemispheres. Last week much of the activity was driven by grain majors fixing period tonnage, but this week it seems they are taking a break. There has been little spot fixing in the Atlantic and the rates are dropping. Trans Atlantic rounds now pay around usd 13000 and fronthauls around usd 22500. In the Pacific rates has come to around usd 9000, and as owners refuse to fix at charterers low fixing ideas we see more and more ballasters heading towards South America. They all hope that a record crop and harvest in South America soon will lift the market. Not so much to report from the period market this week, but levels remain around usd 14000 for 1 yr tc", said the shipbroker.
Finally, in the Handy markets, "with the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off some USD 1000 wow for all trades and the Feastern market is experiencing the same tendency. The list of available tonnage is outnumbering the cargoes and rates are softening. One trade that has taken pounding is Indonesia/India coal where a 53k dwt fixed USD 6k+60k GBB. Rates are similar for the NoPac trade and players do not expect any changes until the holidays in China are over", Fearnley's concluded.
As it turns out, demolition activity as a means to alleviate tonnage supply, will continue to play a major role in the dry bulk market's future prospects. According to the latest weekly report from shipbroker Golden Destiny, "scrap prices keep their firm levels of excess $400/ldt in the Indian subcontinent region with Bangladesh, after the elections, competing hard with India. Pakistan still shows weak activity, while Chinese shiprecyclers are seeking hard to secure new tonnage under the current spike of rates – up to $10/ldt-, but their price differential with Alang-Chittagong breakers remains large at almost $100/ldt. The second week of January ends with deals reported at very firm levels in India and Bangladesh, but scrapping activity is soft after the recent upturn of the freight market.
In terms of deadweight sent for scrap, there has been 21% weekly decrease with 2 demolition deals reported for large vessel sizes, 1 capesize bulker and 1 aframax tanker. India is reportedly to have won 4 of the 6 demolition transactions, 1 Bangladesh, 1 China. Benchmark scrap prices in the Indian subcontinent region: $405-415/ldt for dry and $435-$445/ldt for wet cargo. Scrap prices in China hover at $340/ldt for dry and $350/ldt for wet cargo. At a similar week in 2013, demolition activity was up by 183%, in terms of the reported number of transactions, when 17 vessels had been reported for scrap of total deadweight 1,009,630 tons with 7 disposals for bulkers, 3 tankers, 1 2 gas tankers, 4 liners and 1 container. Ship-breakers in Indian subcontinent region had been offering similar levels of the current year, $400-410/ldt for dry and $425-$435/ldt for wet cargo", Golden Destiny noted.
In a separate note, Lion Shipbrokers, mentioned that "rising demand and good steel prices have kept the demolition market relatively busy for one more week. The steady steel demand along with good demo rates, have driven many European owners to choose India for scrap their older tonnage and start looking for replacement tonnage in the second hand market. Pakistan still cannot compete Indian & Bangladeshi rates, attracting very few ships. We have not picked up any containerships deals for one more week mainly due to draft issues & weather conditions in Subcontinent. In Bangladesh, elections are finally over with the ruling winning thus leading to a better and steadier market. Nevertheless due to the Instability of the past, cash buyers are concentrating into smaller tonnage. In China the market is declining as steel prices are getting lower and everyone is preparing for the Chinese New Year holidays. Turkey rates are also decreasing down as the local currency is declining against the US dollar leading to an even slower market", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Planning Commission, India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
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