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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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Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
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- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
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- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
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- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
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- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
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