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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, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
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 ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
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- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
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