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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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Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Posco Energy - South Korea
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- PTC India Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
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