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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Planning Commission, India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
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