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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- The University of Queensland
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
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