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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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Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
Tuesday, 29 October 13
NEWCASTLE PORT SHIPPED 12.29 PER CENT MORE COAL W-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.29 per cent week on week to 3.61 million mt for ...
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- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
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