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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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Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
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