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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
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- Bhushan Steel Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Planning Commission, India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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