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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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Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
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- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
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