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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, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
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- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
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