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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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Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Marubeni Corporation - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
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