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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, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
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- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Sical Logistics Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
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