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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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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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- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
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