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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, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
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