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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, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
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