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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
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