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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, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
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