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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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Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Planning Commission, India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
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