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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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Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
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