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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- MS Steel International - UAE
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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