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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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Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
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- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
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