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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- PTC India Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
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