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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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Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
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- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Australian Coal Association
- Malabar Cements Ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
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