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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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Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
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- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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