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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, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
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