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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, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Indika Energy - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
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