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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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Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Deloitte Consulting - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
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