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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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Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
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