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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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- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Planning Commission, India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- The University of Queensland
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
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