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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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Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
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