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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 $8,500 per day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- The University of Queensland
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
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