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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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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
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 upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
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