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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, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- Wilmar Investment Holdings
- Minerals Council of Australia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
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