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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, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
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 carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- GMR Energy Limited - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Tata Chemicals Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
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