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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 $9k+260 gbb bss aps E.Kalimantan for trips to India. WCI-PG was rather quiet, trips via S.Africa to Feast paying 8+200k levels. For Nopac rounds vessels were trading at 8k +. It seems there was an increasing interest in spot period, 55k dwt spot N.China fixed 3/5 months redelivery WW at mid 9k, others open in SE.Asia got 11/13 months biz at high 9k", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Parry Sugars Refinery, India
- The University of Queensland
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
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- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
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