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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, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
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- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
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