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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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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
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- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
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