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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, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
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