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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, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Indika Energy - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- ASAPP Information Group - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
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