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Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for cargoes, which haven't been offset that much by the record pace of ship demolition activity. As a result, the industry's benchmark has been hovering around subdued levels for some time now. Yesterday, the BDI (Baltic Dry Index) was up by 7 points to 1073, as a result of a rebound in Panamax activity, which together with the rise of the Supramax segment, were able to negate the rapid fall of the Capesize market.
Commenting on the Capesize segment, the latest weekly report from shipbroker Fearnleys noted that "with last 5 trading days showing only marginal fluctuations in levels concluded despite increased volumes, sentiment again turning nervous as improved activity fails to lift spot. Far East appears the most vulnerable, with rates for the WAust/China trade falling 10% and general Pacific rounds almost 15% w-o-w. Atlantic remains the bright spot in comparison – but with more speculation of massive volumes to be moved from Brazil during December than actual fixing, a steady flow of ballasters could soon change this picture. Support from paper levels combined with owners seeking predictable income for 2013 have allowed for limited period activity - representative fixtures include 175k dwt/built 2011 done for 10-14 months with delivery China mid Dec at USD 11250, 175k dwt/built 2010 delivering China prompt for 11-17 months at USD 11350, and 180k dwt/built 2011 delivery China prompt for 11-18 months at USD 11250" said the shipbroker.
On the Panamax front, Fearnleys added that "the last week has been strong for the Panamaxes both in Atlantic and Pacific. A sudden shortage of ships for early positions in Atlantic have driven transatlantic rounds up to around USD 8k, much thanks to coal cargoes from US and also some more grain cargoes from South America. Fronthaul on the other hand is not quite as busy, but both USG/China and ECSA/China fetching around 14500+450k ballast bonus. It was reported a period fixture with Atlantic delivery of 11/13 months at USD 8500. In the Far East there is enough activity for the market to slowly move upwards even though there are plenty of ships available. Coal to China is probably the main driver. A Pacific round pays around USD 8500, but maybe more interestingly the short period market in Feast pays around USD 7750 indicating that market players doesn´t really believe in this market for the longer term" the shipbroker concluded.
Finally, on the Handy front, it said that "the north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tightened slightly in the US Gulf. For USG - SE Asia/Far East large eco Supra fixed at USD 18k. The Indian iron ore market remains quiet with less activity on WCI & ECI. India/China tct rate would be around USD 5k. Far East continues to be on positive side, 56k dwt fixing passing Spore for nickel ore RV at USD 13500. For Indo-India, large eco Supra now fixed at USD 12500 bss passing Spore. South Africa has been quiet this week. Red Sea fertilisers to India are fixed high teens" it said.
In a similar report, Piraeus-based shipbroker Shiptrade & Services said about the Supramax front that "positive news for the Supramax market, especially in the Atlantic basin, where a number of fronthauls from the USG in combination with the tonnage shortage in the area pushed the BSI at 674 points. Trips from the USG to FEast are expected to pay around USD 16,000 for large-eco Supras, whereas trips with redelivery Continent expect to pay around USD 11,500. On the other hand, the Cont/Med market still suffers of oversupply of Supras resulting to a large number of spot vessels. However, scrap cargoes ex Continent to Emed are regulars, with rates fluctuating around USD 8,500 - 9,000. A number of ballasters towards Gibraltar are expected in order to pursue better cargo availability.
Admittedly, in the Pacific Supramax market, the only support comes from the Indonesian cargoes, whereas the India market has been on the quiet side for another week, however, with significantly good volume of coal and nickel ore cargoes. NOPAC rounds pay approximately USD 8,000 plus a ballast bonus USD 300k. The Indian market is still stable, with Supras being fixed for Indo/India orders with delivery Singapore at levels around USD 10,500 and redelivery ECI. The Indian Iron Ore to China is expected to pay around USD 5,750 but on low volumes, whereas, no change has been observed for another week on the RBCT round, with rates still at USD 8000 + 200K ballast bonus. A small increase in short period requirements has been seen, with rates for large and eco Supras hovering around USD 8,500 to 9,000 levels" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
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