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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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Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- The University of Queensland
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
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