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Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. The industry's benchmark, the Baltic Dry Index (BDI) has been falling over the past few days, but has still managed to remain above the 2,000-point mark, ending yesterday's session down by 22 points to 2,134 points. All major dry markets were down, with Capesizes losing 42 points at the Baltic Capesize Index to 3,596, while the Panamax market has been losing the most. The Baltic Panamax Index was down by 63 points to 1,883 points.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market that "a number of vessels loading or in ballast toward W.Austr enjoying daily returns at close to $45k. However, after two weeks of relentless demand for prompt tonnage, the Aussie miners appear covered for Dec, and Pac rates have plummeted toward their present value of around $25k/day. The heavy Dec ore re-stocking appears to have contributed to some delays in N.Chinese ports, which may further depress Pac rates once these ships open end of month. Fronthaul rates for Jan remain firm and tonnage supply in the Atl appears balanced against cargo volume. As such, paper hangs in the balance. With Jan and Q1 contracts currently trading at 19.5k and 13.5k respectively, the front end appears backwardated against a spot 4TC rate of 33k. Just how far the 4TC rate comes off will be dependent upon seasonal variables, but with increased Austr i.ore supply set to come online for Q1 and Q2, the effect of these variables on rates could well be mitigated compared to years previous", the shipbroker said.
On the Panamax market, it added that "after last week´s rally in the market, we experienced some standoff between owners and chrts this week. Some chrts will have to pay up to cover their end Dec/beg Jan cargos, however, there is not much free tonnage in the North Atlantic. Tarv´s are now being fixed in the low 20´s region and shorter rounds like Murmansk/Baltic rounds have been done in excess of USD 30k on voyage basis. As the holidays are approaching limited activity is expected for the next two weeks followed by a strong start of the New Year. In the eastern hemisphere rates are coming off. The impact on Indonesian ban on coal export causing less activity on the Indo/China rounds. Pac rounds are now being fixed in the low teens. The period market has been somewhat active although with gradually less support from FFA´s short period in the 14k range and one-year around 13k, but takers for period seems to be taking a breather over the holidays for now", Fearnleys said.
Meanwhile, in its recent analysis of the latest trends of the dry bulk market, BIMCO predicted that "the elevated level of Capesize Time Charter average rates will remain volatile and stay around USD 15,000-30,000 per day. Panamax TC average rates will stay in the region of USD 9,000-16,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 11,000-17,000 per day interval, whereas Handysize rates is expected to stay strong in the region of USD 9,000-12,000 per day.
For 2014, BIMCO expects that demand growth will range between 4½ and 6%, indicating that such strong growth will outstrip supply and bring about an improvement to the fundamental balance. According to BIMCO's head of shipping analysis, Peter Sand, "coal exports from the US have been growing since 2007. However, after a record-setting year in 2012, the numbers appear to be dwindling. Even though March this year set a record with 12.3 million tons, 7% higher than the record set in June 2012, it is not representative of the whole year. The exported total in the first nine months of 2013 is 7.5%, lower than that of the same time last year. Seen on a broader scale, however, the 2013 numbers are still around 100% higher than they were only 4 years ago. In combination with the long sailing distances that most US coal export routes hold, the trade has established itself as a key element in the market, also in the future" he said.
As such, "in the light of lower domestic demand for coal in the US due to the excess production of cheap gas, BIMCO expects US coal producers to become a mainstay in the Atlantic market. Down the road, we may also see coal exports from US West Coast ports.
Going forward, EIA expect US coal exports to remain elevated in 2014 too. Driven by the increased consumption of gas within the US at the expense of coal, producers opt for exporting to Europe and Asia. However, productions costs in the US require relatively high sales prices, and with coal being abundant, particularly in the Asian region, the potential seems to be capped for the near-term future. Despite slower Chinese GDP growth in 2014, commodity imports could very well stay strong. This is due to the factors of diversity in suppliers, lower commodity prices, and the lower quality of domestically produced iron ore and thermal coal", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
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