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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
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- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
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