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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
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