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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, 28 October 13
API 8 CFR SOUTH CHINA COAL FOR Q3'14 DELIVERY LOST ON D-D,W-W & M-M
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.22 percept M-M on Friday 25 October 2013. The CFR South China Co ...
Monday, 28 October 13
COAL SWAP FOR Q3' 2014 DELIVERY LOST ON D-D, W-W AND M-M
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.46 percept month on month on Friday 25 October 2 ...
Saturday, 26 October 13
PANAMAX CHARTER RATES FROM INDONESIA TO INDIA STAY FIRM - SOLYM
COALspot.com: The freight market showed tendency of softness with Cape and Panamax futures and physical soft.
The BDI was down by 12 pct week end ...
Saturday, 26 October 13
DRY BULK MARKET KEEPS ON RETREATING, BUT NEW BUILDING ORDERS KEEP ON PILING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market kept on retreating this week, with the industry's benchmark, the Baltic Dry Index (BDI) falling to 1,708 points, down 78 on the ...
Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
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- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
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