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Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in freight rates and has led the industry's benchmark, the Baltic Dry Index (BDI) to lower ground. Yesterday, the index ended with yet another decline, struggling to avert the falls, now standing at 1,271 points, down by 51 on the day. Once again, the Capesize market suffered the most, as it was down by 105 points to 1,775. Smaller declines were also evident in the remaining ship classes.
In its latest weekly report, shipbroker Fearnley's commented on the Capesize market by mentioning that there was "mixed sentiment for the big ships, as spot softens from already low levels whilst period units remain in demand and fetch solid premiums. A considerable number of ballasters combined with very limited fresh ore and coal volumes from S.Africa and Brazil gives little promise for spot levels to improve short-term. The WAust/China trade has again come to life, but only to the extent that expected daily return for such rounds does not fall much below usd 10k. With average spot value hovering around usd 12k, forward faith is well reflected in prompt 180000-tonners fetching in excess of usd 20k for 12 months".
On the Panamax market, Fearnley's noted that "this week the activity came down dramatically in both hemispheres. Last week much of the activity was driven by grain majors fixing period tonnage, but this week it seems they are taking a break. There has been little spot fixing in the Atlantic and the rates are dropping. Trans Atlantic rounds now pay around usd 13000 and fronthauls around usd 22500. In the Pacific rates has come to around usd 9000, and as owners refuse to fix at charterers low fixing ideas we see more and more ballasters heading towards South America. They all hope that a record crop and harvest in South America soon will lift the market. Not so much to report from the period market this week, but levels remain around usd 14000 for 1 yr tc", said the shipbroker.
Finally, in the Handy markets, "with the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off some USD 1000 wow for all trades and the Feastern market is experiencing the same tendency. The list of available tonnage is outnumbering the cargoes and rates are softening. One trade that has taken pounding is Indonesia/India coal where a 53k dwt fixed USD 6k+60k GBB. Rates are similar for the NoPac trade and players do not expect any changes until the holidays in China are over", Fearnley's concluded.
As it turns out, demolition activity as a means to alleviate tonnage supply, will continue to play a major role in the dry bulk market's future prospects. According to the latest weekly report from shipbroker Golden Destiny, "scrap prices keep their firm levels of excess $400/ldt in the Indian subcontinent region with Bangladesh, after the elections, competing hard with India. Pakistan still shows weak activity, while Chinese shiprecyclers are seeking hard to secure new tonnage under the current spike of rates – up to $10/ldt-, but their price differential with Alang-Chittagong breakers remains large at almost $100/ldt. The second week of January ends with deals reported at very firm levels in India and Bangladesh, but scrapping activity is soft after the recent upturn of the freight market.
In terms of deadweight sent for scrap, there has been 21% weekly decrease with 2 demolition deals reported for large vessel sizes, 1 capesize bulker and 1 aframax tanker. India is reportedly to have won 4 of the 6 demolition transactions, 1 Bangladesh, 1 China. Benchmark scrap prices in the Indian subcontinent region: $405-415/ldt for dry and $435-$445/ldt for wet cargo. Scrap prices in China hover at $340/ldt for dry and $350/ldt for wet cargo. At a similar week in 2013, demolition activity was up by 183%, in terms of the reported number of transactions, when 17 vessels had been reported for scrap of total deadweight 1,009,630 tons with 7 disposals for bulkers, 3 tankers, 1 2 gas tankers, 4 liners and 1 container. Ship-breakers in Indian subcontinent region had been offering similar levels of the current year, $400-410/ldt for dry and $425-$435/ldt for wet cargo", Golden Destiny noted.
In a separate note, Lion Shipbrokers, mentioned that "rising demand and good steel prices have kept the demolition market relatively busy for one more week. The steady steel demand along with good demo rates, have driven many European owners to choose India for scrap their older tonnage and start looking for replacement tonnage in the second hand market. Pakistan still cannot compete Indian & Bangladeshi rates, attracting very few ships. We have not picked up any containerships deals for one more week mainly due to draft issues & weather conditions in Subcontinent. In Bangladesh, elections are finally over with the ruling winning thus leading to a better and steadier market. Nevertheless due to the Instability of the past, cash buyers are concentrating into smaller tonnage. In China the market is declining as steel prices are getting lower and everyone is preparing for the Chinese New Year holidays. Turkey rates are also decreasing down as the local currency is declining against the US dollar leading to an even slower market", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
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