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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, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
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