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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 course of the past week, albeit at a rather slow pace. The Baltic Dry Index (BDI) ended yesterday slightly higher at 1,164 points, up by four points on the days, mainly as a result of the rise of the Supramax market, as all other segments were once again on the nagative side.
According to the latest weekly report from shipbroker Intermodal, the BDI has lost more than 50% since the December high it reached, but sentiment among the majority of players, regarding the future prospects of the market remained positive. "The asset market remains quite active both in second hand and new building orders and values are sustaining their upward trend. It could be said that this is a pattern of brighter future prospects. Time will tell but in the meantime let’s have a look at some market fundamentals and facts", the shipbroker noted.
Intermodal's Yannis Olziersky, SnP broker, mentioned that "as expected freight rates dropped significantly during January and the first half of February. Apart from the Lunar Holidays, which affected the market to a large extent, the Cape market was also affected by bad weather and by the credit restriction imposed to steel traders by China's Central Bank that affected the purchase of iron ore. Panamax rates also dropped due to lack of cargoes in both basins and especially in the Pacific.
On the smaller sizes, rates in the Atlantic were healthier, in the Pacific however things were completely different as there was a lack of cargoes due to the fact that the Indonesian government banned the exports of minerals like Nickel Ore and imposed taxes on other cargoes such as copper and iron ore. This eventually affected the Atlantic since a lot of tonnage ballasted towards the region to find business and as a result, this created an oversupply in the basin and affected rates negatively", Olziersky said.
He added that "despite the significant drop in rates, a brief comparison can indicate that freight rates are noticeably higher than those witnessed during the same period last year. Additionally, period fixtures of one year plus, have significantly increased (both in rates and volume), compared to last year, with reported rates for one year t/c for a Capesize being more than USD 20k/day, those for Panamaxes at region USD 14k/day and those for Supras in excess of USD 13k/day, which could be an indication that we are on the right track for a recovery. Apart from the above, commodity-wise, this year is expected to have more supply of grains coming out from the US due to the increased production, more demand for iron ore by China and increased coal demand for electricity plants. All this together with latest Economic Outlook from the IMF which has revised its projection for World Economic growth upwards to slightly higher than 3.7% for 2014 and 3.9% for 2015, are all indicators which cannot be ignored by market players and especially by those who are sitting on the sidelines and waiting for the right time to invest", he said.
According to the broker, "the uncertainty though as to what happens next still remains and this is what makes the shipping business an exciting world with great uncertainties and challenges. Traditional and experienced shipowners are familiar with shipping cycles hence they have the insight on when they should be investing. And it is indeed the case that many traditional owners have already and are still investing and renewing their fleet. Could this be a sign? Probably yes but then again time is the best judge to everything", Olziersky concluded.
Meanwhile, in a separate report, shipbroker Fearnleys commented on the Capesize market by noting that "spot remains at very poor levels despite seeing a 16% improvement w-o-w to come in at a daily average of USD 9600, and the contango in this segment is still worrying. In dramatic contrast to a very uninspiring spot, a "Cadillac" 181k dwt/built 2014 with extremely economical speed/consumption features has fetched USD 27k basis 10-14 months, delivery China end February - this comparing to some USD 23k on "standard" tonnage. Atlantic suffers from thin demand and continued/growing oversupply of tonnage, a situation not expected to change much in the days to come. At present the only bright spot is the Aussie/China coal and ore trades, being the sole reason for spot levels improving marginally".
On the Panamax front, Fearnleys said that "we see two very different markets in the two hemispheres now. The Atlantic is still falling, here we see very little fresh cargoes coming out and the list of tonnage is growing. An Atlantic round now pays around USD 8500/day, and we see positional business being done at far lower levels. The ECSA market is still weak, with too many ballasters for first half of March putting pressure on the rates. ECSA/Feast is now down to around 15k+500k compared to around 16k+600k at the end of last week. The bright spot on the other hand is the Pacific. Here rates are pushing upwards and we seeAustralia rounds fixed around USD 12k and nopac rounds fixing above USD 14k/day. The period market remains healthy; 1-year period is still paying around USD 14k daily", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
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