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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, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
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