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Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize market, while also proving right those analysts who had foreseen this recovery. Yesterday, the Baltic Dry Index (BDI), the industry's main benchmark maintained its upward trajectory, rising by an additional 38 points and reaching 1,860 points, almost double than its levels at the end of August. The main driving force behind yesterday's rise was, once again, the Capesize segment which was up by 86 points to reach 3,924 points, well over the break-even points even for those owners who invested at the peak of the market. Besides the Capesize market, all other segments of the dry bulk foray were on an upward trend as well, with the Panamaxes proving to be the strongest among them, up by 30 points.
In a recent note, shipbroker Intermodal noted that "it will take a longer period to understand how strong the legs to this latest rally are but the waves of optimism that have washed the market are undoubtedly high and more than welcome". In a separate note, shipbroker Fearnleys commented on the Capesize market that "the crusade continues with some speculating that market fundamentals may again look more rosy. Average daily earnings have gained almost USD 6k w-o-w, coming in at a firm USD 35500. The main driver is now increasing Atlantic mineral volumes combined with tight supply, and USD 40000 done for T/A round. Looking ahead, most owners are rating well described ships in the region of USD 35000, reflecting the aggressive gains seen on near dated paper FFA contracts for Oct and Q4 now stand at USD 36250 and 32000, respectively. Period deals are being concluded at levels not seen since 2010, with USD 27500 for 5-7 months done on a good 180000-tonner and lately USD 23250 done basis about 12 months. At present it appears that Chinese seasonal re-stocking activities will continue to absorb the growing spot iron ore supply, at least in the short term. This, combined with a relatively stable iron ore price, are good short term indicators for the Cape market", Fearnleys said.
Similarly, in the Panamax market, it stated that "after the recent rally, in particular in the Eastern Hemisphere, the market seems to have taken a breather - before moving further up. NOPAC rounds being fixed from 14k and close to 15k mid-week, but with healthy volumes and a steady flow of Cape splits there is room for elevated levels short term. Good signs for USG grain activity, where ton rates have moved up from 45 to above 50 in a week could be the basis for a substantial rise in the Atlantic market. With a lagging index and some voyage rates well under index, T/A rounds should be in the 12k range and fronthaul around 18k, even well above 20k on some particular runs. It seems the number of ballasters into the Western Hemisphere is being outnumbered by fresh requirements. Finally, we see decent volumes and levels for period where Owners secure about 12k for short and 11+ on 1 year spec and position depending. At least for now, the market is firm!", it said.
Finally, in the Handy market, Fearnleys said that "the rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept cargos seems they are speculating on lower rates. Indo/China coal rounds spot vessel open Phils fixed at USD 13k. For vessels open ECI rates jumping up to around USD 10k dop for trips Indo/India with coal. Short period a 57k dwt vessel open N.China was fixed at low 11k for 3/5 mos redel WW. MEG/WCI is still quiet. S.Africa is over supply, rates remain USD 8+200k for trip to Feast", Fearnleys concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
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