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Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. This is already evident from the iron ore fixture activity. According to the latest report from shipbroker Golden Destiny, “Chinese iron ore fixture volume shows solid levels. According to Commodore Research, there is an increase in Chinese iron ore fixture volume with 26 vessels being chartered to haul iron ore to Chinese buyers last week, 5 more than the previous week and 3 more than the trailing four week average”.
The Piraeus-based shipbroker added that “fixture volume has remained moderately above the relatively low volume seen in early January. Meanwhile, Chinese steel production remains under serious pressure as recently data from the China Iron and Steel Association shows that average daily crude steel production at China’ key steel mills totaled 1.69 million tons during January 21 to January 31. This is the same level that was reported by CISA from January 11 to January 20 and the lowest seen since late November. In the thermal coal market, Chinese fixture volume is not so strong as in the iron ore market 4 vessels were chartered to haul spot thermal coal cargoes to Chinese buyers last week, 3 less than was chartered during the previous week and 1 less the trailing four week average. Overall, demand for imported thermal coal remains well below the peak level last seen in January 2014. One more negative factor in the coal market with a dismal influence on the panamax segment is that India’s power plant coal stockpiles have increased further this week and now exceed the stockpile level seen a year ago. At present, approximately 18.6 million tons of coal is stockpiled at Indian power plants. This is 100,000 tons more than was stockpiled a year ago”, said Golden Destiny.
It also mentioned that “the levels of BDI could not found support from any vessel size and ultramax newbuilding deliveries have an intense downward effect on the performance of panamax and handymax markets. The Chinese iron ore fixture volume fuels some hopes for better returns in the capesize segment after the end of Chinese New Year, but there is still high uncertainty for the performance till the end of the first quarter of the year. Currently, a positive sign of these days is that there is a decrease in Chinese iron ore port stockpiles and approximately of 93 mil tons of iron ore is now stockpiled at Chinese ports, down year-on-year by 5.5 million tons (-6%). Iron ore price persists at record 6 years’ low of $62/ton as Chinese iron ore appetite is holding back due to Lunar New Year”.
It’s also noteworthy that the LNG segment is in similar mode. “LNG spot rates remain in the doldrums, while there are market indications about LNG carriers being laid up around Singapore. According to shipping data on Thomson Reuters, seven tankers have been sitting idle off the east coast of Johor, Malaysia, for over two weeks, and another two ships have been anchored south of Batam, Indonesia, for several months. Half a dozen LNG tankers are in Singaporean docks. The 15 ships have a combined capacity to carry 2.26 million cubic metres of LNG, about two weeks worth of Singapore’s gas demand. LNG spot rates have now declined to $54,800/day despite roughly 5 fixtures being reported this week”.
Meanwhile, in shipping finance deals this week as tracked by Golden Destiny, “BW LPG Limited announced that it has signed a Facility Agreement for a debt facility of up to USD400 million for financing seven of its VLGC newbuildings. The financing has been raised from The Export-Import Bank of Korea (“KEXIM”) as Export Credit Agency (ECA) lender, with DNB Asia Limited (“DNB”) and Skandinaviska Enskilda Banken AB (Publ), Singapore Branch, (“SEB”) as Mandated Lead Arrangers and commercial lenders.DNB and HSBC Bank Plc. (“HSBC”) acted as ECA structuring advisors with HSBC also acting as ECA coordinator.
The Facility comprises the following: An ECA tranche of up to USD268 million that is being provided by KEXIM, representing approximately 67% of the facility amount. A Commercial tranche of up to USD133 million, split equally between the two commercial lenders, representing approximately 33% of the facility amount. The debt financing will be secured against seven of the Company’s VLGC newbuildings. The blended margin over LIBOR applicable across all tranches of the financing is 1.70% p.a., and the weighted average amortisation profile will be 18 years”, Golden Destiny concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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Showing 3186 to 3190 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
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