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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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Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
...
Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
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- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
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