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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
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