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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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Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
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