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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, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
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- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
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- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
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- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
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- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
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