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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, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
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