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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-$435/ldt for wet cargo", Golden Destiny noted.
In a separate note, Lion Shipbrokers, mentioned that "rising demand and good steel prices have kept the demolition market relatively busy for one more week. The steady steel demand along with good demo rates, have driven many European owners to choose India for scrap their older tonnage and start looking for replacement tonnage in the second hand market. Pakistan still cannot compete Indian & Bangladeshi rates, attracting very few ships. We have not picked up any containerships deals for one more week mainly due to draft issues & weather conditions in Subcontinent. In Bangladesh, elections are finally over with the ruling winning thus leading to a better and steadier market. Nevertheless due to the Instability of the past, cash buyers are concentrating into smaller tonnage. In China the market is declining as steel prices are getting lower and everyone is preparing for the Chinese New Year holidays. Turkey rates are also decreasing down as the local currency is declining against the US dollar leading to an even slower market", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
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