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Friday, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize market, while also proving right those analysts who had foreseen this recovery. Yesterday, the Baltic Dry Index (BDI), the industry's main benchmark maintained its upward trajectory, rising by an additional 38 points and reaching 1,860 points, almost double than its levels at the end of August. The main driving force behind yesterday's rise was, once again, the Capesize segment which was up by 86 points to reach 3,924 points, well over the break-even points even for those owners who invested at the peak of the market. Besides the Capesize market, all other segments of the dry bulk foray were on an upward trend as well, with the Panamaxes proving to be the strongest among them, up by 30 points.
In a recent note, shipbroker Intermodal noted that "it will take a longer period to understand how strong the legs to this latest rally are but the waves of optimism that have washed the market are undoubtedly high and more than welcome". In a separate note, shipbroker Fearnleys commented on the Capesize market that "the crusade continues with some speculating that market fundamentals may again look more rosy. Average daily earnings have gained almost USD 6k w-o-w, coming in at a firm USD 35500. The main driver is now increasing Atlantic mineral volumes combined with tight supply, and USD 40000 done for T/A round. Looking ahead, most owners are rating well described ships in the region of USD 35000, reflecting the aggressive gains seen on near dated paper FFA contracts for Oct and Q4 now stand at USD 36250 and 32000, respectively. Period deals are being concluded at levels not seen since 2010, with USD 27500 for 5-7 months done on a good 180000-tonner and lately USD 23250 done basis about 12 months. At present it appears that Chinese seasonal re-stocking activities will continue to absorb the growing spot iron ore supply, at least in the short term. This, combined with a relatively stable iron ore price, are good short term indicators for the Cape market", Fearnleys said.
Similarly, in the Panamax market, it stated that "after the recent rally, in particular in the Eastern Hemisphere, the market seems to have taken a breather - before moving further up. NOPAC rounds being fixed from 14k and close to 15k mid-week, but with healthy volumes and a steady flow of Cape splits there is room for elevated levels short term. Good signs for USG grain activity, where ton rates have moved up from 45 to above 50 in a week could be the basis for a substantial rise in the Atlantic market. With a lagging index and some voyage rates well under index, T/A rounds should be in the 12k range and fronthaul around 18k, even well above 20k on some particular runs. It seems the number of ballasters into the Western Hemisphere is being outnumbered by fresh requirements. Finally, we see decent volumes and levels for period where Owners secure about 12k for short and 11+ on 1 year spec and position depending. At least for now, the market is firm!", it said.
Finally, in the Handy market, Fearnleys said that "the rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept cargos seems they are speculating on lower rates. Indo/China coal rounds spot vessel open Phils fixed at USD 13k. For vessels open ECI rates jumping up to around USD 10k dop for trips Indo/India with coal. Short period a 57k dwt vessel open N.China was fixed at low 11k for 3/5 mos redel WW. MEG/WCI is still quiet. S.Africa is over supply, rates remain USD 8+200k for trip to Feast", Fearnleys concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
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