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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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Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
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- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
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