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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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Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Eastern Energy - Thailand
- Australian Coal Association
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- PTC India Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
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