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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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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Energy Development Corp, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- PTC India Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
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