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Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for industry players. With China's New Year holidays looming, things can only get even worse, before a potential rebound, beginning after the first few days of February. Yesterday, the dry bulk market's benchmark, the Baltic Dry Index (BDI) was down once more, ending at 1,127 points, losing an additional 21 points. However, this time around it wasn't the Capesize segment which led the downfall, but the Panamax and Supramax markets, with the respective indexes losing 22 and 38 points.
Still, according to a recent note from shipbroker Lion Shipbrokers, this fall of the market was expected, "as the Far East is slowing down due to the forecoming Chinese New Year holidays. The celebrations are also known as the Spring Festival week (official dates: 31st January to 6th February) but practically holidays last for about 2 to 2.5 weeks" the shipbroker said.
In its latest weekly report, shipbroker Fearnleys reiterated the above, by noting on the Capesize sector that "the Chinese are getting in holiday mood as Chinese new year is approaching. There is a general lack of cargoes in the Atlantic as well as the pacific; west Australia to China is presently in the very low 7s pmt, with disappointingly low demand from the three majors. Vale employed three of the early ships yesterday for Tubarao / Qingdao in the upper 19s pmt. Freight levels are close to the lowest seen last year, however the major difference from last year is period rates are keeping strong, presently in the low 20,000s for a year which is indicating that spot rates will improve at one stage".
On the Panamax market, Fearnleys said that "with most players in China away for Lunar New Year holidays, the Panamax market is softening on less activity in both hemispheres. Some fresh cargoes entering the market for Feb dates are not enough to balance the current growing list of open positions. Transatlantic rounds at abt 12.000, Pacific rounds mid 8´s. Some major players are out trying to cover forward on COA bss, indicating timing is right. With expectations of a strong coming grain season the FFA market is giving some support for period fixtures, where pmaxes achieve 14K, Eco Kamsarmax 15 K for 1 year bss Feast dely", the shipbroker said.
Finally, in the Handy markets this past week, "in the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in region high 20k ´s. We see a long and still growing list of spot vsls in the Pacific and the Chinese New Year approaching is not helping the situation. Some cargoes for beginning Feb loading are entering the mrkt, but not to the extent that it will make rates improve overnight. During the last week the Smax rates have hovered ard Usd 4k + 70-80k GBB for Indo rounds. One positive sign is the period market. Like the 2 bigger segments, the rate gap between spot and period deals is big and this shows some confidence for the months to come. One Tess 52 was fixed for one year at Usd 12k bss dely Japan", Fearnley's concluded.
Meanwhile, in the sale and purchase markets over the course of the past week, despite the fall noticed in the charter market and the increasing values of ships, buying interest continued to be strong. According to data from Lion Shipbrokers, in the dry bulk market: "Panamax MICHELLE D’AMATO (76K BLT 2005 TSUNEISHI/JAPAN) did find buyers quickly (within 2 weeks after she entered the s+p market) who paid a strong $22.8 mill for her. We picked up that clients of Sinokor of South Korea have purchased Greek controlled panamax unit KALYPSO (73K BLT 1997 SUMITOMO/JAPAN) for the firm price of $11.2 mill. Greek interests have committed the eco design ultramax unit DIETRICH OLDENDORFF (63.5K BLT FEB 2013 SINOPACIFIC DAYANG/CHINA) for $31 mill. In an off market deal, clients of Pacific Basin of Hong Kong are behind the acquisition of supramax AOYAMA (56K BLT 2006 MITSUI/JAPAN CR 4X30T) for the price $22.5 mill which is in line with last week’s deal of exact sister IKAN SERONG (56K BLT 2006 MITSUI/JAPAN CR 4X30T) for $23 mill. Having being inspected by almost 15 buyers (half of them Greeks), Japanese controlled grab fitted handymax NIKKEI PHOENIX (45K BLT 2002/JAPAN CR 4X30T) went naturally to Greek buyers (hearing clients of PL Shipping) for the level of $16 mill. Greek controlled handymax SPILIANI (43K BLT 1994 HYUNDAI/S. KOREA CR 4X35T) changed hands locally for $7.3 mill including a remaining time charter attached until November 2014 at $8,500 per day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
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