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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-$435/ldt for wet cargo", Golden Destiny noted.
In a separate note, Lion Shipbrokers, mentioned that "rising demand and good steel prices have kept the demolition market relatively busy for one more week. The steady steel demand along with good demo rates, have driven many European owners to choose India for scrap their older tonnage and start looking for replacement tonnage in the second hand market. Pakistan still cannot compete Indian & Bangladeshi rates, attracting very few ships. We have not picked up any containerships deals for one more week mainly due to draft issues & weather conditions in Subcontinent. In Bangladesh, elections are finally over with the ruling winning thus leading to a better and steadier market. Nevertheless due to the Instability of the past, cash buyers are concentrating into smaller tonnage. In China the market is declining as steel prices are getting lower and everyone is preparing for the Chinese New Year holidays. Turkey rates are also decreasing down as the local currency is declining against the US dollar leading to an even slower market", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
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- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- The University of Queensland
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
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