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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, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
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- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
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- The University of Queensland
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- Indian Energy Exchange, India
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- Indonesian Coal Mining Association
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- Indo Tambangraya Megah - Indonesia
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- Bharathi Cement Corporation - India
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- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
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- IEA Clean Coal Centre - UK
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- Australian Coal Association
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- Pipit Mutiara Jaya. PT, Indonesia
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- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
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- Goldman Sachs - Singapore
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- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
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- Mercator Lines Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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