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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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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
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