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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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Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
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