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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, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
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