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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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Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
Wednesday, 12 February 14
2013 WAS THE YEAR OF PRIVATE EQUITY FUNDING - TIMOS PAPADIMITRIOU
COALspot.com: People say that money makes the world go round. Well, can it be that it’s the other way around? Is it possible that money needs ...
Tuesday, 11 February 14
INDONESIAN COAL SWAP SHOWS STRONG GROWTH IN 2014 SECOND HALF
COALspot.com – Swaps prices slide for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
T ...
Tuesday, 11 February 14
AUSTRALIA'S NEWCASTLE COAL EXPORTS SLIDE AROUND 15% WEEK ON WEEK
COALspot.com: In the week ended 10 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 11 February 14
SHIP OWNERS INVEST IN 447 NEWBUILDINGS AND SECOND HAND VESSELS DURING JANUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite a rough start to the year for the dry bulk freight market and lackluster performance from most other shipping sub-segments, ship owners have ...
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- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
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