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Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
 The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiotic and if both partners do well the outcome is a successful performance. Ideally, if both parties in a charter agreement do well the result is successful transportation, from which everyone benefits. However, if one partner starts stepping on the toes of the other there is always some pain.
Fascinatin’ Rhythm…
The rhythm of the shipping markets presents its dancers with choices. Do I charter short term or do I fix for longer periods? The answer in part depends on the different rates for the two choices. And, of course, it's also about timing. Our Graph of the Week shows, for a Panamax bulkcarrier, the trends for the two options. The solid line represents the one year time-charter rate and the dotted line the earnings that the vessel would have made for the same period on the spot market. This pas-de-deux is mostly led by the forward curve of spot earnings, with period rates following closely in step.
Come Join the Dance…
As earnings rise and fall, so the numbers on the dance floor change similarly. When rates rose to peaks in 2004-05, 2007 and 2010 so too did the number of fixtures. Conversely, low rates in 2001, 2006, 2009 and now in 2012 have seen fixtures decline.
Numbers were lowest in 2H 2001 when, with timecharter rates under $6,000/day, sometimes only one fixture a month was made. During the super-boom of 2007 almost 50 a month were recorded as rates soared to over $60,000/day. And most recently, in September with rates back down to under $3,000/day only 4 fixtures were concluded.
Reluctant Partners…
The turning points come when owners and charterers become reluctant partners. During 2002-04, 2006-08 and 2009-10 the forward spot curve was higher than for period rates. It was clearly in charterers’ interest to fix period rather than spot and indeed fixtures did increase. It was owners’ toes that were being stepped upon as they lost out on better spot rates.
For a short period in 2005 the roles were reversed and again, in 2008, the forward spot curve fell faster than period rates, giving owners an opportunity. However, in both periods charterers were less willing and the number of fixtures declined sharply. Now, with spot and period rates aligned it is less clear where the benefit lies; the number of fixtures is falling, but where will spot rates go?
Dancing in the Dark…
So, there you have it, owners and charterers can do the moves but they don’t always make the best of partners. Reading the spot market is the key and it appears that charterers have been getting the best of it, but both are really dancing in the dark. The benefits of the long term deal are never guaranteed when the casual excuse me can intercede.
Source: Clarkson Research Services / Hellenic Shipping News
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Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
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Showing 4541 to 4545 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
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