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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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Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
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- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
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