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