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Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of market fundamentals, such as the gradual fall of tonnage oversupply. As a result, the industry's benchmark, the Baltic Dry Index (BDI) has climbed to levels not seen in recent years. It ended yesterday's session up by 106 points to 2,127, with Panamaxes following the recent Capesize rallying and leading the pack. The Baltic Panamax Index (BPI) was up by 143 points yesterday, reaching a total of 1,745. Capesizes followed, with the BCI (Baltic Capesize Index) rising by 76 to 4,329 points. Smaller ship types were also higher yesterday.
In its latest weekly report, shipbroker Intermodal noted that "the dry bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers no one believed could be achieved in 2013 and the rest of the segments following, the positive sentiment has overtaken even the most skeptic ones".
In a separate report, shipbroker Fearnleys noted on the Capesize market that it's " appearing more and more toppish as gains are primarily obtained for small volume routes, whilst levels for main trades such as Brazil/China and WAust/China are under pressure. Average daily earning are up 20% w-o-w to come in at usd 42k, and a further strengthening/consolidation is very dependant on steady fresh coal and iron ore flows, key factor being chinese steel mills´ need for further restocking or not. With primarily financial players now taking profit prior to quarter-end, FFA values struggle to provide support for ever-increasing period levels - last exemplified by a 180000 dwt built 2010 open prompt China for 12 months at a whopping usd 25k", it said.
On the Panamax market, Fearnleys added that "it continues with strong rates in both basins. Atlantic are extremely busy and rates increases every day. For atlanticrounds owners asking 15-16 k and more from baltic. Fronthaul beeing fixed at 25-27 k levels, on iron ore from Brazil and grain from USG to feast reporeted in the high 50ies up from 42-43 only few weeks ago. Very strong pacific market as well and rounds been concluded at 16k for NOPAC and even 18-19 k for Aussie/Indo rounds. We are now soon ending the 3 rd week with strong increase. Although seemingly well supported by fresh cargoes and strength in other segments a relevant question is if will this continue or if we have we seen the peak for now. The iore out of Brasil togheter with much grain ex USG have been the main drivers supported by good coal volumes and cape spilts in both hemispheres. Period business have kicked off as a result of the stong market, and 1 year coming close to 13 k, short period in the 16-17 range".
Finally, in the Handy markets, "feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit less for trips Indo/China. Nickel Ore still pays a premium a vessels open Philippines were fixed at around $17k for a trip to China. South Africa is same negative sentiment. But ore in PG to China fixed in $13-16k range. Short period seem strong. Ships in North China are fixed around $10-11k for 3/5 months", Fearnleys concluded.
In the sales and purchasing markets, Intermodal noted that "while the confidence on the potential of the MR sector is receiving more confidence, we believe that dry units will receive more interest in the coming days following the rally that is still taking place in the freight market", said the shipbroker. Finally, in the demolition front, it noted that "last week the Reserve Bank of India has made a decisive move in its effort to support the local currency, by boosting its benchmark repurchase rate to 7.5% from 7.25%. This is the first increase since 2011 and one which most economist didn't expect. As the Indian Rupee has been weakening against its US counterpart, reaching consecutive historical lows only recently, the need for support has been expedited even after the Federal Reserve has committed to continue its bond purchase at the current levels, which practically means that the economic recovery is still very much fragile and therefore any rate increases at this stage can be harmful. Despite the rate hike in India, the Rupee hasn't enjoyed any substantial upside yet, fact that is worrisome for the demo market amongst other things. Nevertheless, at least for now, breakers appear to have taken these news positively, as prices across the board picked up, with the Indian Sub-Continent witnessing the bigger increases as expected. Average prices this week for wet tonnage were at around 375-405$/ldt and dry units received about 365-385$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
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