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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-$435/ldt for wet cargo", Golden Destiny noted.
In a separate note, Lion Shipbrokers, mentioned that "rising demand and good steel prices have kept the demolition market relatively busy for one more week. The steady steel demand along with good demo rates, have driven many European owners to choose India for scrap their older tonnage and start looking for replacement tonnage in the second hand market. Pakistan still cannot compete Indian & Bangladeshi rates, attracting very few ships. We have not picked up any containerships deals for one more week mainly due to draft issues & weather conditions in Subcontinent. In Bangladesh, elections are finally over with the ruling winning thus leading to a better and steadier market. Nevertheless due to the Instability of the past, cash buyers are concentrating into smaller tonnage. In China the market is declining as steel prices are getting lower and everyone is preparing for the Chinese New Year holidays. Turkey rates are also decreasing down as the local currency is declining against the US dollar leading to an even slower market", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 20 November 13
TAIPOWER TO IMPORT 0.825 MMT OF 5000 GAR COAL FOR Q2' 14
COALspot.com: Taiwan Power Company intends to procure 825,000 metric tons of general sub-bituminous coal with calorific value not lesser than 5,000 ...
Wednesday, 20 November 13
CAPES AND PANAMAXES SOFTENING; SMALLER SIZE SEGMENTS FIRMING FURTHER - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable- )
The BDI has closed off the week on the red, with rates for Capes and Panamaxes softening and those fo ...
Tuesday, 19 November 13
INDONESIAN GOVERNMENT'S DECLARED COAL PRICE REFERENCE UP 1.98% IN NOVEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.52 / MT ...
Tuesday, 19 November 13
WEEKLY COAL EXPORTS FROM NEWCASTLE PORT INCREASED BY 20.59%
COALspot.com: In the week ended November 18, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.92& ...
Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
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- Australian Coal Association
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
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