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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- PTC India Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
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