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