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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, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
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- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
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