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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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Thursday, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
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- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
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