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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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Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
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- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
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