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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, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
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