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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
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