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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, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
Tuesday, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
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- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Minerals Council of Australia
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