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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 $9k+260 gbb bss aps E.Kalimantan for trips to India. WCI-PG was rather quiet, trips via S.Africa to Feast paying 8+200k levels. For Nopac rounds vessels were trading at 8k +. It seems there was an increasing interest in spot period, 55k dwt spot N.China fixed 3/5 months redelivery WW at mid 9k, others open in SE.Asia got 11/13 months biz at high 9k", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
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- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Planning Commission, India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
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