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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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Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Siam City Cement - Thailand
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
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