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Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ended yesterday further down by 22 points, to 824, well below the 1,000-point mark. All major segments fell yesterday, with the Capesize market leading the fall.
According to this week’s report from shipbroker Fearnleys, in the Capesize market, “the bottom has hopefully been reached for now, with a steady number of fixtures out of West Australia to China at USD 7,75 pmt, as well as handful of fixtures out of Brazil at going freight of USD 21,50 pmt. More activity out of Brazil is expected, which will result in immediate healthier rates. Period activity however still remaining slow with one year levels presently sub usd 20,000, considered too low by most owners”, the shipbroker said.
Meanwhile, on the Panamax front, “this week started slowly with little fresh requirements in both hemispheres and this continued as the week went on. We are expecting the index to set a new all-time low on 4tc average before this week is over. In the Atlantic all operators and owners are struggling to fix their prompt ships. Most ships are still trading, but we expect to see more and more ships dropping anchor soon as a trans-Atlantic round is paying close to zero and fronthaul is now well below USD 10k. It is slightly easier to fix your ship in the east, at least if you are willing to accept aps rates with a low ballast bonus.
A pacific round pays around USD 3000 daily. The period market has of course come down as well. But there has been some period activity as we see some owners are willing to take around USD 8000 for a short period as the alternative is so much worse”, Fearnleys said.
Finally, on the Handy markets, “in the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to Usd 5,500 and it is no doubt that this market is heading south before the summer holidays are upon us. Some owners have been able to clear their schedule with letting ships go for shorter or longer periods and achieving decent rates for same with 12k being done for 2 years. The market in Feast remains quiet and weak but rates are somewhat holding steady.
Vessels open Singapore were fixed arnd 8K for trips to India while the ECO tonnage can achieve slightly more. For trips to S.China Supras could fix around 7K. NOPAC is paying arnd 9K +290K BB bss APS. S.Africa is still weakening For trips East rates are around 8,500-9K + 150K BB”, the shipbroker concluded.
Meanwhile, according to shipbroker Intermodal, in the newbuilding market, “the trend of the week prior resumed, with tankers and dry bulkers monopolizing the list of recently reported deals. Prices have not yet witnessed the pressure one would expect under the current overall market environment but the truth is that in most cases the actual discount would not be as obvious, as shipbuilders have been including free extras in their quotes rather than offering straight forward price discounts. This means that actual prices have softened a bit further than what the yards are willing to admit or rather than what current orders reveal. It will be interesting to see how August will pan out for the market, as traditionally there tends to be a step back from over marketing slots during this period and in this instance we might actually get to see the above mentioned discount manifesting on the actual prices. In terms of new orders, the Australian group, Fortescue Metals, has placed an order at Jiangsu New YZJ, in China, for four firm VLOCs (260,000dwt), for a price of US $ 68.75m each and with delivery set between 2016 and 2017″, said Intermodal.
Finally, in the ever-so critical demolition market, Intermodal said that “prices continue to correct downwards in the demolition market and despite the fact that the sales reported this past week appear to still hold around last dones, the reality is that the average bids out of the Indian Sub-Continent are in fact way lower.
The Indian Rupee continues to be the main cause of concern here. The currency lost further strength against the US Dollar for yet another week, on the back of local importers displaying increased appetite for the Greenback. The presence of cash buyers, who are betting on a reverse of the negative climate is still evident though in last week’s sales, the majority of which was once again concluded by Indian breakers at firm levels. The truth is that demo prices have sustained their strength overall during 2014, hence the appetite at these levels is excused if one takes into account the overall performance of the market as well as the resistance of prices during the greater part of the year.
The rest of the market remained stable, with activity remaining lackluster overall. Average prices this week for wet tonnage were at around 325-485$/ldt and dry units received about 310-465$/ldt”, the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- The University of Queensland
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
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