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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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Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
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- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
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