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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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Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- White Energy Company Limited
- Planning Commission, India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- PTC India Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
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