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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Minerals Council of Australia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
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