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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, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
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- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
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