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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- White Energy Company Limited
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
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