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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, 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 ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
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