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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, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
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- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- White Energy Company Limited
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
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