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Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet another downward session, which saw its fall down to 936 points, minus 34 points on the day. Capesizes were once again among the main "losers", with the Baltic Capesize Index (BCI) down by 111 points. Panamaxes on the other hand had an upward session, up by 15 points, but they had already reached new year lows over the past few weeks. According to the latest weekly report from shipbroker Intermodal, "the dry bulk market is still unable to react to the pressure that has been building up as of the end of March, while the holidays this week should impede any significant improvement.
Meanwhile, the newbuilding market has been on "afterburner" mode over the past few weeks. According to Intermodal, "the newbuilding market still faces levelling prices, while interest has somewhat bounced off the lows that we have been witnessing during the past weeks. Saying that, we don’t expect any booming in orders anytime soon with the conditions prevailing in the market at the moment. There are a number of voices that support that newbuilding prices will note a substantial increase this year round, as they did in 2013 but we don’t see that being possible unless there is a substantial reversal in the performance of the freight rate market and subsequently the market psychology. But even if prices don’t increase substantially and the market continues to fare at low levels, we don’t see any decreases happening either. The truth is that most of the yards, and certainly all the a-list ones have covered all or a very substantial part of their slots, which means that they are now dealing with healthier cash flows and much less pressure than what they did a year ago when they had to offer big discounts to attract interest. In terms of new orders, Singaporean owner Navig8 has returned to Hyundai in S. Korea, to place an order for a pair of VLCCs (320,000dwt), for a reported price of $ 102.0m each and delivery set for 2016", said the Piraeus-based shipbroker.
On a similar note, Clarkson Hellas said in its latest newbuilding report that "in dry, it is understood that Golden Union have declared options for three further 81,200 DWT Kamsarmax at AVIC Weihai Shipyard for deliveries throughout 2016 and 2017 to add to their existing two units currently under construction. Clients of Sealink Navigation have contracted two firm 63,000 DWT Ultramax with Imabari Shipbuilding in Japan for deliveries in 2016 for the first unit and in 2017 for the second. Also, although understood to have been signed last month, it came to light this week that they have also placed an order for two firm 34,000 DWT bulk carriers at Namura Shipbuilding which are due to deliver in 3Q 2015.
Further orders in the VLCC sector to report this week, with clients of Transportation Recovery Fund (TRF) contracting two firm 320,000 DWT crude carriers at Hanjin’s Subic yard in the Philippines. Delivery is planned in 4Q 2016 and 1Q 2017. A single order to report in the container market, with Arkas Container Transport contracting two firm plus two option 2,500 TEU container carriers with Zhejiang Ouhua in China. No price was disclosed, but it is understood that the deliveries will be in 4Q 2016 for the first unit whilst the rest will be in 2017. Bremen based Zeaborn declared their options for further four 12,500 DWT MPPs at Taizhou Sanfu for delivery in 2016 and 2017. The German shipping company already have six units of the same type on order at Sanfu, and also have six firm plus four option 12,000 DWT MPPs at Sainty Marine in China", Clarkson Hellas concluded.
Finally, on the demolition front, Intermodal noted that "forget the disappointments elsewhere; the demolition market remains the bright spot of the industry for yet another week. While the Indian Rupee continues to display strength against the US Dollar it seems that those high levels we have been seeing lately may be sustained for a little while longer. This past week, bids coming from both Pakistan and India have increased further, while the rest of the competition remained numb, with prices in Bangladesh actually softening. Despite no particular developments in the country that could have an adverse effect on prices, it seems that demand has yet to reach satisfactory levels. Elsewhere things remain quiet, with China watching the gap between local and Indian Sub-Continent prices having widened so much that even locally positioned demo candidates can’t find the Chinese demo market attractive. Average prices this week for wet tonnage were at around 320-500$/ldt and dry units received about 310-490$/ldt", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
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