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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, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
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