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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
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