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Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bringing more cheers among dry bulk ship owners, who are actively looking ahead, wondering whether this latest rally is a sign of things to come, as 2014 is believed to be the first year of a substantial recovery in freight rates. Yesterday, the Baltic Dry Index (BDI) reacedh 1,279 points, up by 64 points on the day. As expected, this latest rise was backed by strong Capesize demand as evidenced by the Baltic Capesize Index's increase of a whopping 215 points, to 2,660. Panamaxes were also higher by 28 points, to 961 (BPI), while, a more modest rise of nine points to a total of 952 was also evident in the Supramax market.
According to Fearnleys latest weekly report, on the Capesize market, "Spot and period reaching levels not seen for quite some time, as iron ore volumes from both West Australia, South Africa and Brazil show very positive developments. Despite very limited transatlantic activity and consequent poor earnings for that particular niche, overall average daily spot earnings are up 14% w-o-w to come in at usd 18000 - and continuing up. Support is given from market faith in Q4/2103, with corresponding FFA´s presently at an impressive usd 25k. Period levels AND FFA values for CAL14 follow suit, with resultant fixtures including 2012-built 179000-tonner delivering S.Korea mid sept done for 6-9 months at usd 19800, 180000 dwt/built 2011 delivering China prompt for 12-16 months at usd 18300 and 180000 dwt/built 2013 fixing ex Imabari Yard mid sept for 30-36 months at usd 20k with options for 4th and 5th year at usd 24k and usd 26k respectively", Fearnleys said.
In a note this week, Grindrod, a major sea transportation conglomerate, said that "commodity demand remains strong and world seaborne trade continues to grow.
Demand is recovering in the products market which, when allied to minimal deliveries of newbuilding vessels, is resulting in sharply improved tanker rates. The outlook for the dry cargo market remains weak due to the number, albeit reduced from 2012 levels, of new ships delivering into an already oversupplied market. On the positive side, scrapping of older drybulk tonnage continues at high levels and the newbuilding order book going forward is limited. This is leading to a rebalancing of the supply/demand equation, in particular on the smaller size ships. The owned and long-term chartered fleet has a reasonable level of cover for the remainder of 2013, combined with solid ship operating forecast earnings. Forward contracts on 36% (weighted by revenue) of vessels in the second half of 2013 will lock in US$1,6 million of operating profit, with 22% (weighted by revenue) of vessels already under contract for 2014, resulting in contracted operating profits of US$8,5 million", Grindrod said.
Meanwhile, in the Panamax market, Fearnleys said that "we see more activity in the both hemispheres this week. More coal and iron ore cargoes are entering the market and owners willing Fhauls are in for a good 15k for same bss Cont delivery. TA´s are being paid 8 and even up to 10k. With the Chinese restocking their iore piles and Cape rates at descent levels, we see more stems being quoted as panamax stems. In the Pacific it is a steady flow of coal cargoes entering the market and rounds are being paid around Usd 8k. The imposed tax on low grade coal fm the Chinese has not yet transferred into the shipping market. The latter we believe will add more tonne miles into the trade and we will see less of the Indonesian rounds that we see tday. Period market has regained acitivity with supporting FFA values making it more atractive for takers. LME´s are now fetching close to Usd 9,500 for one year and high 9´s for 2 years", the shipbroker said.
Finally, in the Handy market, Fearnleys noted that "nickel ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while there were not many coal orders. Vessels ballast from N.China asked $9k+260 gbb bss aps E.Kalimantan for trips to India. WCI-PG was rather quiet, trips via S.Africa to Feast paying 8+200k levels. For Nopac rounds vessels were trading at 8k +. It seems there was an increasing interest in spot period, 55k dwt spot N.China fixed 3/5 months redelivery WW at mid 9k, others open in SE.Asia got 11/13 months biz at high 9k", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Sunday, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
Thursday, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
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- Parliament of New Zealand
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
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