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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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Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
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- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Central Electricity Authority - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
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