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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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Monday, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
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