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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
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- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
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