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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the back of improving fundamentals. The market's benchmark, the Baltic Dry Index (BDI) had been on a steady path of declines since the beginning of the year, effectively erasing the rally of the last few months of 2013, which brought back the smiles among ship owners. As such, the latest reversal of fortunes, if sustainable, will bring back optimism. Yesterday, the BDI managed to recover part of the loss, rising by 24 points to 1,398, on the back of a halt of declines the day before that. The main reason for the latest positive development was the rise of the Capesize segment, with the Baltic Capesize Index (BCI) increasing by 67 points to reach 1,929.
According to the latest weekly report from shipbroker Fearnley's, commenting on the Capesize sector, mentioned that "the first half of the week saw the cape indices continue to plummet in particular the C9 TA index, which lost a whopping $30k w-o-w, as Drummond Co. declared force majeure on its coal shipments from Colombia after the U.S. mining company failed to complete on time a port upgrade. The Pacific remains oversupplied and Australian ore miners remain relatively quiet deals concluded between $7.10 and $7.50 range at time of writing. Wednesday has seen a slight uptick on Tub/China rates with the prevailing rate back over the $20 pmt mark. It is noticeable that the inverse to spot has narrowed to almost par (Spot at 12888, Feb trading at 12750) and the curve maintains its strong contango with Q2 trading $15500, Q3 at $20500, and Q4 at $26500. Notable period deals include a 180k dwt vessel with decent speed and consumptions fixing for 1 year at index with a 5% premium".
Meanwhile, in the Panamax market, Fearnley's noted that "the gap between spot and period has increased in both hemispheres. The underlying optimism has been supported by a rising forward curve and major grain houses picking short period and 1-year candidates in Pacific. Owners achieve healthy 14k + del Pacific and above 15k from PMO for 1 year not all that bad considering BPI average 2013 tick above 9700. Mid week, activity in Pacific did show signs of improvement. However, now an increasing que of available tonnage are facing APS rates under 10k for Indo rounds. Strong winter in North Atlantic adding nice premium to brave Owners able to breach INL or move into ice conditions. Otherwise Atlantic seems a bit under pressure for prompt tonnage, fixing mid teens. Fronthaul in a turning point - up from about 23,500".
Finally, in the Handy markets, "in the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upward trend while the rest of the trades are all sliding south. Yet another quiet week in Feast and we expect same trend up to the holidays. There are number of ships open in N.China struggling to find business. Even ships in the south have been laying spot for several days. Vsls open North China are talking USD 6k for Indo-S.China rounds. The trips to India are being fixed on an APS+BB basis and rates are hovering around USD 8k+80k. WCI/MEG and South Africa rates remain firm with a shortage of available tonnage", Fearnley's concluded.
In its latest forecast, BIMCO noted that it expects dry bulk demand to grow at 4.5 to 6%, driven forward by the major bulk trades: iron ore, steam coal and coking coal, with grain in a supporting role. China remains in the driving seat, a scenario that will benefit the larger ships more than the smaller ones. "Following a rather uneventful first half of 2013, July and August were on fire, one that raged through September and October bringing Capesize rates north of USD 42,000 per day. Expanding Chinese steel production and restocking of iron ore were at the centre of the action. In 2014 and beyond, the economic and social progress in the main developing nations that seek inexpensive energy and prosperity will set the tone and affect shipping demand positively. Volatility is likely to rise as the market balance improves. Positive demand shocks will benefit owners and operators to a higher extent than in previous years. The significant oversupply of dry bulk tonnage will, however, influence the pace of the recovery as will the deliveries that follow on from the many newbuilding contracts signed during 2013", BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
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