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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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Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
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