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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Latin American Coal - Colombia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
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