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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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Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
Tuesday, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
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- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
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