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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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Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
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- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
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