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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, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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Showing 3976 to 3980 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
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