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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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Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
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- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
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