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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Australian Coal Association
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
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