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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 industry players. With China's New Year holidays looming, things can only get even worse, before a potential rebound, beginning after the first few days of February. Yesterday, the dry bulk market's benchmark, the Baltic Dry Index (BDI) was down once more, ending at 1,127 points, losing an additional 21 points. However, this time around it wasn't the Capesize segment which led the downfall, but the Panamax and Supramax markets, with the respective indexes losing 22 and 38 points.
Still, according to a recent note from shipbroker Lion Shipbrokers, this fall of the market was expected, "as the Far East is slowing down due to the forecoming Chinese New Year holidays. The celebrations are also known as the Spring Festival week (official dates: 31st January to 6th February) but practically holidays last for about 2 to 2.5 weeks" the shipbroker said.
In its latest weekly report, shipbroker Fearnleys reiterated the above, by noting on the Capesize sector that "the Chinese are getting in holiday mood as Chinese new year is approaching. There is a general lack of cargoes in the Atlantic as well as the pacific; west Australia to China is presently in the very low 7s pmt, with disappointingly low demand from the three majors. Vale employed three of the early ships yesterday for Tubarao / Qingdao in the upper 19s pmt. Freight levels are close to the lowest seen last year, however the major difference from last year is period rates are keeping strong, presently in the low 20,000s for a year which is indicating that spot rates will improve at one stage".
On the Panamax market, Fearnleys said that "with most players in China away for Lunar New Year holidays, the Panamax market is softening on less activity in both hemispheres. Some fresh cargoes entering the market for Feb dates are not enough to balance the current growing list of open positions. Transatlantic rounds at abt 12.000, Pacific rounds mid 8´s. Some major players are out trying to cover forward on COA bss, indicating timing is right. With expectations of a strong coming grain season the FFA market is giving some support for period fixtures, where pmaxes achieve 14K, Eco Kamsarmax 15 K for 1 year bss Feast dely", the shipbroker said.
Finally, in the Handy markets this past week, "in the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in region high 20k ´s. We see a long and still growing list of spot vsls in the Pacific and the Chinese New Year approaching is not helping the situation. Some cargoes for beginning Feb loading are entering the mrkt, but not to the extent that it will make rates improve overnight. During the last week the Smax rates have hovered ard Usd 4k + 70-80k GBB for Indo rounds. One positive sign is the period market. Like the 2 bigger segments, the rate gap between spot and period deals is big and this shows some confidence for the months to come. One Tess 52 was fixed for one year at Usd 12k bss dely Japan", Fearnley's concluded.
Meanwhile, in the sale and purchase markets over the course of the past week, despite the fall noticed in the charter market and the increasing values of ships, buying interest continued to be strong. According to data from Lion Shipbrokers, in the dry bulk market: "Panamax MICHELLE D’AMATO (76K BLT 2005 TSUNEISHI/JAPAN) did find buyers quickly (within 2 weeks after she entered the s+p market) who paid a strong $22.8 mill for her. We picked up that clients of Sinokor of South Korea have purchased Greek controlled panamax unit KALYPSO (73K BLT 1997 SUMITOMO/JAPAN) for the firm price of $11.2 mill. Greek interests have committed the eco design ultramax unit DIETRICH OLDENDORFF (63.5K BLT FEB 2013 SINOPACIFIC DAYANG/CHINA) for $31 mill. In an off market deal, clients of Pacific Basin of Hong Kong are behind the acquisition of supramax AOYAMA (56K BLT 2006 MITSUI/JAPAN CR 4X30T) for the price $22.5 mill which is in line with last week’s deal of exact sister IKAN SERONG (56K BLT 2006 MITSUI/JAPAN CR 4X30T) for $23 mill. Having being inspected by almost 15 buyers (half of them Greeks), Japanese controlled grab fitted handymax NIKKEI PHOENIX (45K BLT 2002/JAPAN CR 4X30T) went naturally to Greek buyers (hearing clients of PL Shipping) for the level of $16 mill. Greek controlled handymax SPILIANI (43K BLT 1994 HYUNDAI/S. KOREA CR 4X35T) changed hands locally for $7.3 mill including a remaining time charter attached until November 2014 at $8,500 per day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
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