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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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- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Australian Coal Association
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
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