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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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Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
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- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
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