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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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Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
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