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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
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