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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
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