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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, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
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 carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
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- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
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