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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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Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Parliament of New Zealand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
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