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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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Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
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- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
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