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Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-point mark, where it stood for most of 2013, erasing in effect the fourth quarter rise of the previous year. Yesterday, the BDI ended slightly higher at 1,092 points, up by six points, the first upward session in days. The slight uptick was triggered by a sudden increase in the capesize market, with the Baltic Capesize Index up by 31 points, to 1,575. Apart from the Panamaxes and Handysizes which remained unchanged on the day, the only other major news was the slight retreat of the Supramax market.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnleys said that "the rates remain weak in both Atlantic and Pacific, and its generally low activity mainly due to the hollidays in China. However there is an anticipation the floor has been reached for now, although a serious improvement is not expected prior to the end of the hollidays. This week West Australia round voyage has improved from 7,10 to 7,30 and tub / qd is still in the very upper 19s. When freight rates start to move in a positive direction, things may move quick however there are still a good number of ballasters and early ships which most likely will slow the development to some extent".
On the Panamax front, Fearnleys mentioned that "the Chinese New Year Luna holidays has brought the trading to a minimum this week. Far east almost absent and Atlantic on slow steam. Some fresh coal orders from USEC and USG was covered at very low levels. US coal exports also down from january 2013 which also may have contributed to the low activity and rates for January. On the contrary the period marked seems to have stabilized and player seems to have a more positive outlook on the rest of the year. A modern Kamsarmax reported fixed for 2 years at 15k with option 1 mora at 16k. The upcoming grain season may have an impact on panamax rates for Q2 and predictions that iron ore export from Brasil will increase as well. T/A now just arnd 10k. Nopac under 9 level, fronthauls despite little done arnd 16.5 + 650.00 aps. 1 year period 14-14.5 k".
Finally, on the Handy market, the shipbroker stated that "due to ongoing Chinese new year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/early March dates. T/C rates seem too slowly leveling out. Supras open China can be fixed around 4k+40k aps for SE.Asia coal rounds. For Indo / Idai Coal trips vessels can achieve around usd 6K. For sand cargos from Cambodia vessel got fixed at around usd 5K. NOPAC, large modern got fixed at around 8K + 330 BB. For short period vessels trading around usd 9-10K depending on spec", Fearnleys concluded.
Meanwhile, in its dry bulk market outlook, issued this week, ship owner Knightsbridge Tankers said that "over the last three years, the focus has been on the supply side of the dry bulk industry. Overcapacity has caused great concerns with an official order book representing approximately 50 percent of the total fleet at the beginning of 2011. The order book has gradually been reduced and by the end of 2013, it is estimated to be approximately 17 percent of the existing fleet albeit a much bigger fleet than three years ago. In 2013, approximately 60 million dwt was delivered and approximately 22 million dwt of the dry bulk fleet was removed. Consequently, net fleet growth ended at seven percent which was considerably lower than in the three previous years".
It added that "the "China story" remained intact in 2013 and China accounted for 83 percent of the global demand growth of 200 million tons. Last year, China imported a total of 1,500 million tons of dry bulk commodities, compared to 750 million tons in 2008. This represents approximately 35 percent of global dry bulk trade measured in volume and more than 40 percent in ton miles".
It concluded its statement by noting that "expectations for a higher utilization of the dry bulk fleet are high among many analysts and owners. Consequently, ordering of new capacity was quite brisk in the second half of 2013, leading to higher new building prices. From a low in the first quarter of last year, prices rose by approximately 15 percent on average. Asset prices for second hand vessels, in particular Capes, witnessed even stronger gains. The value of a second hand Cape increased by more than 25 percent last year", the shipowner said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Coalindo Energy - Indonesia
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