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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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Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
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- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
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- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
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- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
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- Edison Trading Spa - Italy
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
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- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
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- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
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- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
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- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
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