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Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchmark, the Baltic Dry Index (BDI) was down by 14 points to 1,517. Capesizes and Panamaxes led the losses, with the Baltic Capesize Index losing 58 points, while its Panamax counterpart was down by36 points on the day. Supramaxes on the other hand, have maintained their upward momentum, rising by another 14 points to reach 1,339 in total.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market, that "there are no signs of the rally which is still expected to happen before Christmas, however rates are rather keeping steady. Out of Brazil it appears Vale is picking ships quietly for Tubarao/Qingdao, where present level is mid 21s pmt. In the Pacific there has been a good number of west Australia fixtures however levels are still around USD 9.00 pmt. There is also a steady amount of East coast Australia cargoes, but not affecting rates in any positive direction. Demand for period ships is generally healthy, but with the mentioned expected rally owners are holding back".
On the Panamax market, Fearnleys commented that "this week started with a cold shower on the north Continent when suddenly ships fixed USD 12k for quick rounds down USD 3k from last Friday. We see quite a bit of fresh requirements, but a long list of open ships makes sure that the market is still sliding down. For longer duration business in the Atlantic ships can still get around USD 14k. The fronthaul market is sliding together with the rest of the market, but some players argue that the USG grain market will come back again before Christmas considering the record harvest season in the USA. Now ships fix around USD 18+800k for trip via USG to China. The Pacific has kept on falling during this week. Now ships in north China get around 10k for round trips, with several fixtures already fixed at four digit numbers as well. Not that many long period fixtures reported, but market should be around USD 11500 for 1 year".
Finally, on the Handy front, Fearnleys said that "the Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cover their stems. Fhauls bss Cont-Med delivery are also seeing increased rates and we expect the Atlantic to continue its firming tendency into next week.After last week´s rate increase in the Feast we are now seeing the activity coming off. Owners with ships open in South China rating USD 13k for trips via Indonesia to India and chrts now looking to plan ahead and take in ships from North China in order to get the discounted rate. The better paying nickel ore rounds are being fixed in the mid-teens and the period market is picking up pace. Some owners would like to cover their positions over New Years and now starting to look for takers".
In its third quarter results report, owner of dry bulk carriers Knightsbrige (which also owns several VLCC tankers), said that the bulk market surprised forecasters during the third quarter. Cape spot earnings peaked at $42,200 per day on September 25 and the average spot earnings for the quarter was $19,000 per day. Under normal circumstances dry bulk analysts have a fairly common view of the utilization of the dry bulk fleet, but the spread between the estimates has been wider than normal. Cape earnings during the third quarter should indicate a utilization of 82 to 84 percent based on historical data for that segment.
After iron ore inventory draw downs for several months during the first half of 2013, imports in the third quarter resulted in slightly higher stockpiles in major Chinese iron ore ports. A massive 217 million metric tones (mt) of iron ore was imported during the third quarter. This compares with 185 million mt in the same quarter last year, which represents an increase of 17 percent. Coal imports to China reached 70 million mt in the third quarter this year compared to 52.4 million mt in the same quarter last year.
"Vessel values have reacted positively to the improved spot and longer term time charter markets. A Cape resale has over the year moved from $44 million to $52 million (concluded last month) and a 5 year old Cape has been sold at $40 million compared to $34 million a few months ago. In October, Korean yards are said to have concluded newbuilding orders for their outline specifications for delivery 2015/16 at $55 million. Values for smaller vessels have improved as well, but gains are more modest.
One important part of dry bulk fleet utilization is speed and consumption optimization. Since March 2011, bunker prices have been on or above approximately $600/mt. It took some time, however, before owners started to slow steam on a broader scale. With a bunker price of $600/mt the optimal speed in a $30,000 per day market is considered to be 12.5 knots for a Cape size (basis average laden and ballast). During the third quarter, some owners started to increase speed when the market picked up, but quickly reduced speed when the market softened a few weeks later. The third quarter of 2013 was maybe the first and most active quarter when it came to pro active speed and consumption optimization. It is important to bear in mind that the total fleet has never sailed faster than 13.7 knots on average since 2007, so the impact should not be over exaggerated but it might contribute to a floor and ceiling in freight rates in the medium term" the company concluded in its report on the market.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
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