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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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- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- VISA Power Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
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