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Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of market fundamentals, such as the gradual fall of tonnage oversupply. As a result, the industry's benchmark, the Baltic Dry Index (BDI) has climbed to levels not seen in recent years. It ended yesterday's session up by 106 points to 2,127, with Panamaxes following the recent Capesize rallying and leading the pack. The Baltic Panamax Index (BPI) was up by 143 points yesterday, reaching a total of 1,745. Capesizes followed, with the BCI (Baltic Capesize Index) rising by 76 to 4,329 points. Smaller ship types were also higher yesterday.
In its latest weekly report, shipbroker Intermodal noted that "the dry bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers no one believed could be achieved in 2013 and the rest of the segments following, the positive sentiment has overtaken even the most skeptic ones".
In a separate report, shipbroker Fearnleys noted on the Capesize market that it's " appearing more and more toppish as gains are primarily obtained for small volume routes, whilst levels for main trades such as Brazil/China and WAust/China are under pressure. Average daily earning are up 20% w-o-w to come in at usd 42k, and a further strengthening/consolidation is very dependant on steady fresh coal and iron ore flows, key factor being chinese steel mills´ need for further restocking or not. With primarily financial players now taking profit prior to quarter-end, FFA values struggle to provide support for ever-increasing period levels - last exemplified by a 180000 dwt built 2010 open prompt China for 12 months at a whopping usd 25k", it said.
On the Panamax market, Fearnleys added that "it continues with strong rates in both basins. Atlantic are extremely busy and rates increases every day. For atlanticrounds owners asking 15-16 k and more from baltic. Fronthaul beeing fixed at 25-27 k levels, on iron ore from Brazil and grain from USG to feast reporeted in the high 50ies up from 42-43 only few weeks ago. Very strong pacific market as well and rounds been concluded at 16k for NOPAC and even 18-19 k for Aussie/Indo rounds. We are now soon ending the 3 rd week with strong increase. Although seemingly well supported by fresh cargoes and strength in other segments a relevant question is if will this continue or if we have we seen the peak for now. The iore out of Brasil togheter with much grain ex USG have been the main drivers supported by good coal volumes and cape spilts in both hemispheres. Period business have kicked off as a result of the stong market, and 1 year coming close to 13 k, short period in the 16-17 range".
Finally, in the Handy markets, "feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit less for trips Indo/China. Nickel Ore still pays a premium a vessels open Philippines were fixed at around $17k for a trip to China. South Africa is same negative sentiment. But ore in PG to China fixed in $13-16k range. Short period seem strong. Ships in North China are fixed around $10-11k for 3/5 months", Fearnleys concluded.
In the sales and purchasing markets, Intermodal noted that "while the confidence on the potential of the MR sector is receiving more confidence, we believe that dry units will receive more interest in the coming days following the rally that is still taking place in the freight market", said the shipbroker. Finally, in the demolition front, it noted that "last week the Reserve Bank of India has made a decisive move in its effort to support the local currency, by boosting its benchmark repurchase rate to 7.5% from 7.25%. This is the first increase since 2011 and one which most economist didn't expect. As the Indian Rupee has been weakening against its US counterpart, reaching consecutive historical lows only recently, the need for support has been expedited even after the Federal Reserve has committed to continue its bond purchase at the current levels, which practically means that the economic recovery is still very much fragile and therefore any rate increases at this stage can be harmful. Despite the rate hike in India, the Rupee hasn't enjoyed any substantial upside yet, fact that is worrisome for the demo market amongst other things. Nevertheless, at least for now, breakers appear to have taken these news positively, as prices across the board picked up, with the Indian Sub-Continent witnessing the bigger increases as expected. Average prices this week for wet tonnage were at around 375-405$/ldt and dry units received about 365-385$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
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