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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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Monday, 24 June 13
INDONESIA COAL SWAP FOR AUGUST 2013 DELIVERY GAINS WEEK ON WEEK
COALspot.com – Coal prices for immediate supply contracts have started moving up, but prices for next year supply shows a negative trend ...
Sunday, 23 June 13
BDI CROSSED ITS PSYCHOLOGICAL BARRIER THIS WEEK - VISTAAR
COALspot.com : The BDI crossed the psychological barrier of 1000 points after many months and closed at 1,027 points, which were up by 14.11 pct wee ...
Sunday, 23 June 13
SHIP PRICES NOT FOLLOWING FREIGHT MARKET FUNDAMENTALS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although it's been the case in many occasions in the past, it appears that ship prices haven't been quite following freight market fundamentals, i ...
Friday, 21 June 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 19.70 million short tons (mmst) of ...
Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
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- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Australian Coal Association
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
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