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