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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, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
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- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
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