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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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Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
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 m ...
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- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Australian Coal Association
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
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