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Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to return to the global market. According to this week's report from shipbroker Intermodal, "the surge in iron ore trade has translated into a massive boost in daily earnings for capes; with the demand for such vessels skyrocketing over the last couple of weeks. The gains noted for Capes are certainly impressive when considering that rates have recovered from below US$ 4,000/day noted back in June 2012!"
According to Intermodal's SnP broker, Mr. Tasos Papadopoulos, "as a comparison, this time last year, iron ore had “crashed” down to just US$ 86/tonne, in a sudden shift that took the industry by surprise. This had primarily been the drive for last year’s seasonal round of restocking, however it seems that it was nowhere close to the excessive demand witnessed over the past couple of days", he noted.
He added that "Capesize vessels provide the best insight into the health of the Chinese economy; and despite analysts having projected a slowdown in Chinese growth; China continues to import in order to replenish its supply. China's aggressive iron ore restocking has encouraged a surge in demand while near-term prospects remain promising!
China is forced to import iron ore, as their inventories have declined significantly, down by 27% from their February 2012 highs. There have been large volumes of Chinese buying and restocking from both Australia and - more importantly - Brazil and the year could end on a high note", Papadopoulos noted.
But the question that's on everyone's mind at the moment is, how long will this latest Capesize rally last? According to Intermodal's analyst, "we expect Capesize rates to remain firm as long as Chinese iron ore restocking continues. Having said that, we have several examples from the recent past, where once the seasonal restocking process was over, we witnessed drops in freight rates which were just as quick as their preceding rise.
However, the present surge looks likely to be sustained for a bit longer, as it appears to be supported by improving fundamentals in China's steel production and consumption. All the evidence points towards the fact that steel production and consumption in China is to continue to steadily grow, maintaining China’s iron ore imports at healthy levels in respect to the supply of vessels", the shipbroker noted.
As per Mr. Papadoupolos' analysis, "what is worth highlighting here is, that for the moment, only iron ore demand has picked up considerably and it has mostly been Capesize owners that have basked in the sun, while there has been limited spill-over effects noted in the panamax sector and at the same time Supras and Handies seem to be mostly unaffected".
Will this boost in freight rates remain limited only to the larger segments or will we eventually see benefits trickle down to the smaller sizes? According to the analyst, "for the moment it seems as though these surplus rates are a privilege only the Capes can indulge in and as we have yet to see any spikes in demand for commodities such as grain or coal, the mere positive sentiment created by higher earnings may not be enough yet to provide a solid foundation for a complete dry bulk market recovery", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Planning Commission, India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
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