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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, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
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