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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
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