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Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yesterday, the industry’s benchmark retreated by 34 points, dropping to 939. All segments were on the downside, with the Capesize market losing part of the momentum it had developed over the course of the past week. The Baltic Capesize Index was down by 72 points yesterday to 1,792.
According to the latest weekly report from shipbroker Fearnleys, “it was a positive week for the big ships, seeing overall market improvements of 15% w-o-w. Much appear due to increased atlantic volumes and a major miner taking several ships for front hauls. The conference trade West Australia/China has been stable and firming, with rates now coming in between usd 8.15 and usd 8.45 pmt, corresponding levels for pacific rounds up 10% and now standing at usd 13500.
Whilst coal trades remain depressed, recent physical iron ore developments defy worries of record-high inventories and falling chinese rebar demand. Period focus has beenon the short term, where recent fixtures include 180000 dwt/built 2004 done basis delivery S.China prompt for 6-10 months at usd 23k – as FFA values are poor for q1-q2/2015, same levels also apply for 2 x 179000 dwt/built 2009 done basis prompt delivery China for 14-19 months”, said Fearnleys.
On the Panamax market, it noted that “with holidays early week the Panamax market is suffering and in a steady decline in both hemispheres. Over the last month the Atlantic market gained over 50 % for a short peak followed by a steep downturn to even lower levels. If possible, Owners are holding back from fixing freight levels offered on voyage, alternatively take the 8.000 + 80 APS USEC to Med or about 3.000 average on T/C. Trading is limited.
Fronthaul is also weakening despite Owners resistance to go East, with mid-week levels under 35 pmt on voyage, or arround 12.500 + 250 GBB bss APS on T/C. Low activity level in the Far East also with APS rates applying only. Typically 6 + 80 GBB Indo/India or 6.000 average on T/C for Aussie rounds. The forward curve is all flat, indicating the panamax market will be 11.000 + for the next 5-6 years. Period takers are few with Owners offering 1 year close to the 10.000 mark. Rurmors that the Bank of China will limit Letter of Credit for Iron Ore imports did not exactly add any gun pow”, said the shipbroker.
Finally, on the Handy markets, it said that “the week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see a steady flow of Brazilian cargoes which most likely will tie up tonnage which could lead to more pressure on the rates ex USG and Cont. Rates are still very low with USG/Cont being fixed in region of Usd 9-9,500 for Smax. But the increasing amount of cargoes for end June/early July dates are maybe a glimpse of a returning positive view. In the Feast the market is still very weak with a growing list of available tonnage.
Rates are under pressure with Spore positions able to achieve ard Usd 8k for trips to India while the Sth Africa cargoes getting fixed at ard Usd 10k+Usd 200k GBB. Several owners are now in the market to cover their positions under shorter period deals and asking ard 12k for same. Still a big gap between ows and chrts as little being concluded sofar”, Fearnleys concluded.
On a similar note, shipbroker Intermodal noted earlier in the week, that “the good performance of Capesize rates proved insufficient to inspire the rest of the market, which still operates under soft sentiment, while the Panamax segment has touched new year lows”. Meanwhile, in the S&P market, “the bad freight market together with the Posidonia event proved to be a bad combo for SnP activity, while Tankers were most popular for yet another week. On the tanker side, we had the sale of the “FORTUNE ELEPHANT” (317,174dwt-blt 11, S. Korea), which was picked up at a court sale by Greek buyers for a price of $ 77.5m. On the dry bulker side, we had the sale of the “EVER REGAL” (23,468dwt-blt 98, Philippines) which was picked up by European buyers, for a price of US$ 6.8m”, Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
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