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Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in the grain market, as a result of the crisis in Ukraine is a major concern, potentially altering trade routes and patterns, the fall in iron ore prices could lead to yet another wave of restocking among Chinese steelmakers, which can seize the opportunity to attain the raw material at significantly lower prices. Yesterday, the Baltic Dry Index (BDI) increased by 15 points, reaching 1,468 points, although during the week it had briefly surpassed the 1,500 point mark. The "charge" was led by the Capesize segment, which was higher by 54 points yesterday, with the Baltic Capesize Index (BCI) reading 2,654 points. Smaller increases were also evident in the smaller ship classes, particularly in the Supramax market.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnleys noted that it was "a tumultuous week for the big ships, which has seen significant value chipped off the forward curve (Q4 down $4,500 w-o-w) and as of Wednesday, a significant correction in physical rates. (The West Australia index rose to low $11´s before sharply correcting to $9 PMT levels at the time of writing.) The week began with Iron Ore plunging to $104 PMT (62% FE CFR Tianjin), the largest daily loss since 2009, amid talks of a credit squeeze and mounting port stockpiles in China. The arguments will continue as to whether this commodity price correction will have a bullish (cheaper relative foreign iron ore availability) versus bearish (signs of a general reduction in demand) impact on cargo flow but what is undeniable is that a few more questions are being posed. In light of this, it is perhaps not surprising that we saw a 5-year deal on a nice 180kdwt ship at 28k/day fail early this week. Further losses on the paper may see more charterers retreating to reassess their period plays", Fearnleys noted in its report.
Meanwhile, on the Panamax market, it said that "the recent optimism driven by the "caper" and the paper has evaporated with further negative support from a clear lack of fresh requirements. The poor trend is obvious in the Atlantic where Owners are willing to take 5k on T/C for a short run, and less on voyage. Chrtrs have a growing list of candidates to select from, but as Owners are reluctant to fix there could be pockets giving better returns. However, optimism is still alive among all the Owners of the substantial number of vessels heading for ECSA grain to catch a Brazilian contango. Rates have in fact improved to 17k + 700 GBB APS ECSA and well above 41 pmt for April loading. The eastern hemisphere is softening for the same reasons, lack of activity and/or repositioning for ECSA grains. Typical levels at 10-11k. NOPAC activity is scarce. The forward curve has lost momentum, whereas period rates still hover in the 14-15 range for short period up to a year".
Finally, on the Handy markets, Fearnleys said that "Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are done at 12, 750. Fronthaul typically at 19k. The Far East market is in an upward trend, with few ppt vessels available. For short period vessels open N.China and S.China mid 14´s is achievable. NOPAC runs in the mid 13k where trips via Indo to EC India paying low 15k. Vessel in WCI can achieve around 12k for trips to Feast where vessels in MEG and Red Sea were fixed at around 14k for same direction", the shipbroker concluded.
Meanwhile, on the demolition front, shipbroker Intermodal said that "limited activity and firm numbers, is pretty much what is currently describing the demolition market. Indian breakers, being the ones that usually set the tone across the board, are currently enjoying strong fundamentals domestically. On the one hand the Indian Rupee is continuing its rally against the US Dollar. The Indian currency has in fact touched a seven-month high against its counterpart yesterday, as foreign funds have flooded both the Indian debt and equities market. At the same time, steel prices have held firm, at levels which allowed local buyers to feel even more confident in relation to those high end bids that we have been witnessing the past few weeks. Across the Indian Sub-Continent Pakistani breakers have finally left the sidelines and got back into action snapping one of their favorite type of vessels, while at the same time increasing their offers to match competition. The rest of the market remained stable, with Bangladeshi breakers assuming a small piece of the action and those in China sitting still for yet another week. Average prices this week for wet tonnage were at around 330-470$/ldt and dry units received about 320-465$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
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- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
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