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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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Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
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 cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
Wednesday, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
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Showing 4011 to 4015 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- The Treasury - Australian Government
- White Energy Company Limited
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- The University of Queensland
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
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