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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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Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Deloitte Consulting - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
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