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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, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
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