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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, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- The University of Queensland
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
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