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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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Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
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