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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 $8,500 per day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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 ...
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- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Aditya Birla Group - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
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