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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, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
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