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Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchmark, the Baltic Dry Index stood yesterday at 1,960 points, having shedded just five points over the previous session. The biggest gainer was the Supramax market, with the respective index rising by 87 points to reach 1,206. The Capesize market was down by 27 points to 3,451 (Baltic Capesize Index). As far as the Panamax market was concerned, the Baltic Panamax Index was up by 29 points.
In a report this week, shipbroker Fearnleys noted on the Capesize market that "a slow start to the week with holidays around in Far East, but in spite of this, rates are again moving upwards. West Australia to China, having been the main driver in the Pacific market for some time now, is presently in mid/upper 11s. Fronthaul is more or less none existing and back haul cargoes can be developed, but not at rates attractive to owners time being. Period market is not too active, as owners remain optimistic expecting rates to improve further and rates their ships accordingly", it said.
On the Panamax market, Fearnleys noted that "some holidays early week led to low activity with a firm undertone in the Atlantic and slightly negative trend in the Eastern Hemisphere. Charterers have had to pay up for prompt orders in the North Atlantic, from 18k and even well above 20k for short runs, whereas regular T/A´s from Med hovers in the 18k range. The Atlantic still seems to be tight for tonnage with a fair flow of requirements to be covered before the winter season kicks in. Fronthaul fixtures at very high 20´s. A bigger spread on levels in the Far East as most players where in a standoff mode early in the week. Rounds done from 15k up to 20k depending on duration, spec´s and delivery. Nopac rounds falling from 17k mid-week. Period business limited, but supported by a gradually positive forward curve 1-year has been concluded at 13k delivery Far East and well above 16 with Atlantic delivery", it said.
Finally, in the Handy markets, "activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Singapore via Indo to China also ECI. Nopac round were fixed mid USD 12k and around USD 12k for short period. There were several public holidays so just limited fresh inquiries in the market this week. While there are a hundred of ships expected to open in north China. ECI lack of cargoes therefor vessels are ballasting to Spore more. However, have seen S.Afr coming firm with rate over 10k+400k gbb for trip to Feast", Fearnleys concluded.
Meanwhile, the future of the market and more importantly the latest rally's longevity will depend, in part, by the rate of demolition activity. According to shipbroker's Golden Destiny latest report said that the demolition market "has finally turned into positive with India recovering from its serious currency issues and the losses in steel prices. Bangladesh also follows with a rebound in steel prices by competing hard with Alang shipbreakers, while. Pakistan seems to have been left behind as it has still issues with its Rupee. Benchmark scrap prices in India subcontinent region are now up by $25-$35/ldt from the end of August for dry and wet cargo.
In China, benchmark scrap prices are still holding firm from the end of August, by standing at $35-$45/ldt lower levels than the prices in Indian subcontinent region for dry/general cargo and $50-$60/ldt lower levels for wet cargo. The Chinese National Holidays during the first week of October brought little action with one handysize bulker emerged for disposal in China at this week, M/V “WELLY II” of 10,308ldt built 1982 for about $365/ldt", Golden Destiny said.
According to the shipbroker "demolition activity (in terms of reported number of transactions): 20% down week-on-week showing 150% and 100%weekly increase in the volume of tanker and container disposals respectively, with 13% weekly decline in bulker disposals and 80% weekly decline in liner disposals.
The largest activity is recorded in the bulk carrier and tanker segments by holding 44% and 31% share respectively of the total demolition activity, against 13% share from liners.
In terms of deadweight sent for scrap, there has been 33% weekly increase with some scrapping activity in large vessel size categories, 1 aframax tanker, 1 panamax bulker and 1 small panamax container reported for disposal.
India is reportedly to have won 9 of the 16 demolition transactions, Bangladesh 3, Pakistan 1, China 1, Turkey 1, 1 vessel disposal reported at an undisclosed destination.
Benchmark scrap prices in the Indian subcontinent region: $385-$395/ldt for dry and $415-$425/ldt for wet cargo. Scrap prices in China hover at $350/ldt for dry and $365/ldt for wet cargo. At a similar week in 2012, demolition activity was up by 31%, in terms of the reported number of transactions, when 21 vessels had been reported for scrap of total deadweight 1,173,447 tons with 13 disposals for bulkers, 3 for tankers, 3 for containers and 2 reefers. Ship-breakers in Indian subcontinent region had been offering $405-$410/ldt for dry and $435-$440/ldt for wet cargo" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
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- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Parliament of New Zealand
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Australian Coal Association
- Thai Mozambique Logistica
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
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