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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Malabar Cements Ltd - India
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