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Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-point mark, where it stood for most of 2013, erasing in effect the fourth quarter rise of the previous year. Yesterday, the BDI ended slightly higher at 1,092 points, up by six points, the first upward session in days. The slight uptick was triggered by a sudden increase in the capesize market, with the Baltic Capesize Index up by 31 points, to 1,575. Apart from the Panamaxes and Handysizes which remained unchanged on the day, the only other major news was the slight retreat of the Supramax market.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnleys said that "the rates remain weak in both Atlantic and Pacific, and its generally low activity mainly due to the hollidays in China. However there is an anticipation the floor has been reached for now, although a serious improvement is not expected prior to the end of the hollidays. This week West Australia round voyage has improved from 7,10 to 7,30 and tub / qd is still in the very upper 19s. When freight rates start to move in a positive direction, things may move quick however there are still a good number of ballasters and early ships which most likely will slow the development to some extent".
On the Panamax front, Fearnleys mentioned that "the Chinese New Year Luna holidays has brought the trading to a minimum this week. Far east almost absent and Atlantic on slow steam. Some fresh coal orders from USEC and USG was covered at very low levels. US coal exports also down from january 2013 which also may have contributed to the low activity and rates for January. On the contrary the period marked seems to have stabilized and player seems to have a more positive outlook on the rest of the year. A modern Kamsarmax reported fixed for 2 years at 15k with option 1 mora at 16k. The upcoming grain season may have an impact on panamax rates for Q2 and predictions that iron ore export from Brasil will increase as well. T/A now just arnd 10k. Nopac under 9 level, fronthauls despite little done arnd 16.5 + 650.00 aps. 1 year period 14-14.5 k".
Finally, on the Handy market, the shipbroker stated that "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/early March dates. T/C rates seem too slowly leveling out. Supras open China can be fixed around 4k+40k aps for SE.Asia coal rounds. For Indo / Idai Coal trips vessels can achieve around usd 6K. For sand cargos from Cambodia vessel got fixed at around usd 5K. NOPAC, large modern got fixed at around 8K + 330 BB. For short period vessels trading around usd 9-10K depending on spec", Fearnleys concluded.
Meanwhile, in its dry bulk market outlook, issued this week, ship owner Knightsbridge Tankers said that "over the last three years, the focus has been on the supply side of the dry bulk industry. Overcapacity has caused great concerns with an official order book representing approximately 50 percent of the total fleet at the beginning of 2011. The order book has gradually been reduced and by the end of 2013, it is estimated to be approximately 17 percent of the existing fleet albeit a much bigger fleet than three years ago. In 2013, approximately 60 million dwt was delivered and approximately 22 million dwt of the dry bulk fleet was removed. Consequently, net fleet growth ended at seven percent which was considerably lower than in the three previous years".
It added that "the "China story" remained intact in 2013 and China accounted for 83 percent of the global demand growth of 200 million tons. Last year, China imported a total of 1,500 million tons of dry bulk commodities, compared to 750 million tons in 2008. This represents approximately 35 percent of global dry bulk trade measured in volume and more than 40 percent in ton miles".
It concluded its statement by noting that "expectations for a higher utilization of the dry bulk fleet are high among many analysts and owners. Consequently, ordering of new capacity was quite brisk in the second half of 2013, leading to higher new building prices. From a low in the first quarter of last year, prices rose by approximately 15 percent on average. Asset prices for second hand vessels, in particular Capes, witnessed even stronger gains. The value of a second hand Cape increased by more than 25 percent last year", the shipowner said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Australian Coal Association
- VISA Power Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
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