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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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Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- MS Steel International - UAE
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
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