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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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Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
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 carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
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