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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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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
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- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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