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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Planning Commission, India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
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