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Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. This is already evident from the iron ore fixture activity. According to the latest report from shipbroker Golden Destiny, “Chinese iron ore fixture volume shows solid levels. According to Commodore Research, there is an increase in Chinese iron ore fixture volume with 26 vessels being chartered to haul iron ore to Chinese buyers last week, 5 more than the previous week and 3 more than the trailing four week average”.
The Piraeus-based shipbroker added that “fixture volume has remained moderately above the relatively low volume seen in early January. Meanwhile, Chinese steel production remains under serious pressure as recently data from the China Iron and Steel Association shows that average daily crude steel production at China’ key steel mills totaled 1.69 million tons during January 21 to January 31. This is the same level that was reported by CISA from January 11 to January 20 and the lowest seen since late November. In the thermal coal market, Chinese fixture volume is not so strong as in the iron ore market 4 vessels were chartered to haul spot thermal coal cargoes to Chinese buyers last week, 3 less than was chartered during the previous week and 1 less the trailing four week average. Overall, demand for imported thermal coal remains well below the peak level last seen in January 2014. One more negative factor in the coal market with a dismal influence on the panamax segment is that India’s power plant coal stockpiles have increased further this week and now exceed the stockpile level seen a year ago. At present, approximately 18.6 million tons of coal is stockpiled at Indian power plants. This is 100,000 tons more than was stockpiled a year ago”, said Golden Destiny.
It also mentioned that “the levels of BDI could not found support from any vessel size and ultramax newbuilding deliveries have an intense downward effect on the performance of panamax and handymax markets. The Chinese iron ore fixture volume fuels some hopes for better returns in the capesize segment after the end of Chinese New Year, but there is still high uncertainty for the performance till the end of the first quarter of the year. Currently, a positive sign of these days is that there is a decrease in Chinese iron ore port stockpiles and approximately of 93 mil tons of iron ore is now stockpiled at Chinese ports, down year-on-year by 5.5 million tons (-6%). Iron ore price persists at record 6 years’ low of $62/ton as Chinese iron ore appetite is holding back due to Lunar New Year”.
It’s also noteworthy that the LNG segment is in similar mode. “LNG spot rates remain in the doldrums, while there are market indications about LNG carriers being laid up around Singapore. According to shipping data on Thomson Reuters, seven tankers have been sitting idle off the east coast of Johor, Malaysia, for over two weeks, and another two ships have been anchored south of Batam, Indonesia, for several months. Half a dozen LNG tankers are in Singaporean docks. The 15 ships have a combined capacity to carry 2.26 million cubic metres of LNG, about two weeks worth of Singapore’s gas demand. LNG spot rates have now declined to $54,800/day despite roughly 5 fixtures being reported this week”.
Meanwhile, in shipping finance deals this week as tracked by Golden Destiny, “BW LPG Limited announced that it has signed a Facility Agreement for a debt facility of up to USD400 million for financing seven of its VLGC newbuildings. The financing has been raised from The Export-Import Bank of Korea (“KEXIM”) as Export Credit Agency (ECA) lender, with DNB Asia Limited (“DNB”) and Skandinaviska Enskilda Banken AB (Publ), Singapore Branch, (“SEB”) as Mandated Lead Arrangers and commercial lenders.DNB and HSBC Bank Plc. (“HSBC”) acted as ECA structuring advisors with HSBC also acting as ECA coordinator.
The Facility comprises the following: An ECA tranche of up to USD268 million that is being provided by KEXIM, representing approximately 67% of the facility amount. A Commercial tranche of up to USD133 million, split equally between the two commercial lenders, representing approximately 33% of the facility amount. The debt financing will be secured against seven of the Company’s VLGC newbuildings. The blended margin over LIBOR applicable across all tranches of the financing is 1.70% p.a., and the weighted average amortisation profile will be 18 years”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
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