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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, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
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