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Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's session up by a solid 51 points, now standing at 1,621 points which is a new high for the year. The main reason for this has been the booming Capesize market, with the Baltic Capesize Index (BCI) rising by an impressive 147 points on the day and reaching 3,129 points. By contrast, the recent Panamax lucklustre performance hasn't yet been remedied, while smaller ship classes have kept on their upward trajectory, but a rather slow pace.
In its latest weekly report from shipbroker Fearnleys, commenting on the Capesize market noted that "rates have recovered somewhat after the paper sell off last Wednesday. West Australia to China rates have climbed back toward USD 11 PMT, and at the time of writing, rates in the mid USD 11´s are being rumoured fixed for mid April dates, which represents a healthy push. Saldanha Bay to China has similarly witnessed gains of about USD 1, whilst rates for Tubarao/China have held steady at around USD 27 PMT. Consistent volume across all basins should see rates hold up or increase in the coming weeks. The forward curve appears more balanced as the steep contango to spot has been narrowed. There has been notably less period activity this week. However, with Q3 FFA contracts pushing above the 28k market, it may not be long before we see the 2H of 2014 valued above 30k, bring more charterers (and owners) back to secure longer term cover", the shipbroker mentioned.
On the Panamax front, Fearnleys added that "while last week came with strong activity in ECSA and rising activity in the Atlantic market, it all disappeared this week. Monday morning started slow with little fresh requirements and it continued that way. Now we see many spot vsls on the Continent having to drop anchor and wait for interesting business proposals. Same situation in the USG where spot ships compete for cargoes that would require one more week of idling. The Atlantic index is around USD 6k, but that is subject to finding a cargo at all. The encouraging signs we saw last week from ECSA also disappeared. Early April grain cargoes Santos/nprc is now done at USD 39.50 pmt, down around 2 dollars from last week. The Pacific on the other hand is more positive, nopac and Australia are both active and ships gets around 12k daily. Also the period market is holding up, 1 year periods still going around 14k and more for very nice ships".
Finally, in the Handy markets, Fearnleys stated that "from a slight improvement in the Atlantic to a more mixed picture mid week. North Atlantic rounds showing softening signs whereas South Atlantic is on the rise. Trips from USG to Med under pressure - down to 17k but fronthaul USG/China done up to strong 25k/day. ECSA business improving for the owners, now able to achieve around 15 + 550 bss APS for trips out. Pacific has been strong w-o-w but also showing some signs of weakness, in particular for vessels open in Singapore due to the high number of tonnage carrying sand into Singapore. For Indo/India rounds vessel open Spore fixed around 15k levels. Indo/China rounds paying a bit less compare to India levels at around 14k. Short period up to a year moving up to high 14´s", the shipbroker concluded.
In a separate report, commenting on the demolition markets, which could very well prove crucial to the sustained recovery of the dry bulk market, shipbroker Intermodal said that "the same story describes the demolition market for yet another week. Numbers are going higher, activity remains limited and the entire market is still waiting for a downward correction to the recent rally which has yet to materialize. Prices have even surpassed 500$/ldt, which is what happened in one instance so far but still shows the strength and the momentum of the current market. Despite the small correction of the Rupee against the US Dollar this past week, the Indian currency is still trading at very good levels, fact that reassures local cash buyers and allows them to increase their bids even higher. Even though the overall market activity is still slow, Bangladesh appears to have secured one unit and therefore a piece of the action, while breakers in Pakistan have remained fairly quiet this week, holding their offers stable despite some good performance of the local currency. Further to the East, there was finally some action in China, but local prices are still stalling at the low 300 $/ldt with no big chance of offers increasing anytime soon. Average prices this week for wet tonnage were at around 330-475$/ldt and dry units received about 320-470$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
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