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Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ended yesterday further down by 22 points, to 824, well below the 1,000-point mark. All major segments fell yesterday, with the Capesize market leading the fall.
According to this week’s report from shipbroker Fearnleys, in the Capesize market, “the bottom has hopefully been reached for now, with a steady number of fixtures out of West Australia to China at USD 7,75 pmt, as well as handful of fixtures out of Brazil at going freight of USD 21,50 pmt. More activity out of Brazil is expected, which will result in immediate healthier rates. Period activity however still remaining slow with one year levels presently sub usd 20,000, considered too low by most owners”, the shipbroker said.
Meanwhile, on the Panamax front, “this week started slowly with little fresh requirements in both hemispheres and this continued as the week went on. We are expecting the index to set a new all-time low on 4tc average before this week is over. In the Atlantic all operators and owners are struggling to fix their prompt ships. Most ships are still trading, but we expect to see more and more ships dropping anchor soon as a trans-Atlantic round is paying close to zero and fronthaul is now well below USD 10k. It is slightly easier to fix your ship in the east, at least if you are willing to accept aps rates with a low ballast bonus.
A pacific round pays around USD 3000 daily. The period market has of course come down as well. But there has been some period activity as we see some owners are willing to take around USD 8000 for a short period as the alternative is so much worse”, Fearnleys said.
Finally, on the Handy markets, “in the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to Usd 5,500 and it is no doubt that this market is heading south before the summer holidays are upon us. Some owners have been able to clear their schedule with letting ships go for shorter or longer periods and achieving decent rates for same with 12k being done for 2 years. The market in Feast remains quiet and weak but rates are somewhat holding steady.
Vessels open Singapore were fixed arnd 8K for trips to India while the ECO tonnage can achieve slightly more. For trips to S.China Supras could fix around 7K. NOPAC is paying arnd 9K +290K BB bss APS. S.Africa is still weakening For trips East rates are around 8,500-9K + 150K BB”, the shipbroker concluded.
Meanwhile, according to shipbroker Intermodal, in the newbuilding market, “the trend of the week prior resumed, with tankers and dry bulkers monopolizing the list of recently reported deals. Prices have not yet witnessed the pressure one would expect under the current overall market environment but the truth is that in most cases the actual discount would not be as obvious, as shipbuilders have been including free extras in their quotes rather than offering straight forward price discounts. This means that actual prices have softened a bit further than what the yards are willing to admit or rather than what current orders reveal. It will be interesting to see how August will pan out for the market, as traditionally there tends to be a step back from over marketing slots during this period and in this instance we might actually get to see the above mentioned discount manifesting on the actual prices. In terms of new orders, the Australian group, Fortescue Metals, has placed an order at Jiangsu New YZJ, in China, for four firm VLOCs (260,000dwt), for a price of US $ 68.75m each and with delivery set between 2016 and 2017″, said Intermodal.
Finally, in the ever-so critical demolition market, Intermodal said that “prices continue to correct downwards in the demolition market and despite the fact that the sales reported this past week appear to still hold around last dones, the reality is that the average bids out of the Indian Sub-Continent are in fact way lower.
The Indian Rupee continues to be the main cause of concern here. The currency lost further strength against the US Dollar for yet another week, on the back of local importers displaying increased appetite for the Greenback. The presence of cash buyers, who are betting on a reverse of the negative climate is still evident though in last week’s sales, the majority of which was once again concluded by Indian breakers at firm levels. The truth is that demo prices have sustained their strength overall during 2014, hence the appetite at these levels is excused if one takes into account the overall performance of the market as well as the resistance of prices during the greater part of the year.
The rest of the market remained stable, with activity remaining lackluster overall. Average prices this week for wet tonnage were at around 325-485$/ldt and dry units received about 310-465$/ldt”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
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