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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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Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- MS Steel International - UAE
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
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