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Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded most of the gains experienced over the past few months. Yesterday, the BDI was up by six points to just 962 points, with the larger ship classes, most notably the Capesize and Panamax ones experiencing modest gains, while smaller bulkers were on the downside once more.
Still, according to BIMCO's comments, the latest news from the economic spectrum, could provide a boost. "Positive developments in Eurozone and Chinese economy benefit shipping", was BIMCO's comment. More specifically, "the recovery of the Eurozone continues as job creation returns across the region. The hiring of more staff indicates that manufacturing and service industries believes in a sustainable recovery where growth is picking up. Flash Eurozone PMI Composite is now at 54.0 (53.1 in March). A 35-month high, with the PMI being above the 50 no-change level for ten months in a row" it noted.
Chief Shipping Analyst at BIMCO, Peter Sand, said, "the world is economically interconnected to a large extend. Improvements in Europe should better the economy in China by spurring exports. Likewise, the Chinese transition into becoming a more consumer driven economy should also lift European exports to China. The fundamentals work when higher economic growth lift trade and benefit shipping." In China, the Flash Manufacturing PMI rose to 48.3 (48.0 in March). The index has been below the 50-threshold level for all 4 months of 2014. Flash April index sends mixed signals, as employment decrease at faster rate, whereas new orders decrease at slower rate. China now feels some pressure from lack of new export orders as that sub-indicator goes from an increasing level (above 50) to a decreasing level.
Both regions struggle to cope with deflationary pressure.
Meanwhile, according to the latest weekly report from shipbroker Fearnleys, on the Capesize front, "after Easter, the sentiment has turned more positive and owners will rather let their ships wait or ballast than fix pre Easter levels. West Australia / Qd is presently at usd 7,60, and more owners are aiming in the 8s. Its more coal being shipped and rates are slowly improving for trades like indonesia /india and east coast Australia/ far east. For the Atlantic and front haul however, it remains weak with lack of requirements. Its however expected this will change within soon, which will together with increased period interest be the main contributors for improved rates", the shipbroker said.
On the Panamax market, Fearnleys noted that "the Easter break did not cause any radical changes to even the most strong believers. The overwhelming oversupply of tonnage versus too few requirements and low activity still prevails in both hemispheres. Owners in the Atlantic are simply holding back from fixing the poor returns offered. However, with a slow flow of fresh requirements sentiment is pushing the Atlantic slightly up to 3-5.000 on T/C, but far less on voyage terms. The long lack of push from ECSA grains could be in a turning point, although it remains to be seen a clear postive trend. Typical levels mid week at abt 14. 500 + 450 K GBB APS. In the Far East, where most people live, it is quiet and levels are still poor. Levels hovering in the 7.000 range for various rounds up to abt 9.000 for NOPAC on T/C. There is a scent of optimism from ECSA grains expectations and tick higher levels are seen on Indo/india runs. Lifting of the 19 month old iron ore ban in GOA could have a positive effect for the Panamax owners".
Finally, on the Handy markets, it said that "there is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although the Pacific is slowly showing some signs of recovery. USG to Brazil is done at arrnd mid 5K, trip across to Med at high 8´s. Fronthaul in the mid 15.000 rge. A flow of fresh requirements lifting the Pacific slowly to 10-11 K bss Spore for coal rounds. Owners see mid 9´s China-Indo-India runs, and abt same for NOPAC or 10-11 + 300 BB APS. South Africa have not changed much, where India positions get abt 12 K + 250 GBB for trips via S Africa to the East. Period not very active, although larger Ultramax apparently done 13. 500 for Sh period bss del CJK", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
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- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bhatia International Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Sical Logistics Limited - India
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