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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, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
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