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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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Tuesday, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
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- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Australian Coal Association
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Planning Commission, India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
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