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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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Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
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- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
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