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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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Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
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- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
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