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Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchmark, the Baltic Dry Index (BDI) was down by 14 points to 1,517. Capesizes and Panamaxes led the losses, with the Baltic Capesize Index losing 58 points, while its Panamax counterpart was down by36 points on the day. Supramaxes on the other hand, have maintained their upward momentum, rising by another 14 points to reach 1,339 in total.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market, that "there are no signs of the rally which is still expected to happen before Christmas, however rates are rather keeping steady. Out of Brazil it appears Vale is picking ships quietly for Tubarao/Qingdao, where present level is mid 21s pmt. In the Pacific there has been a good number of west Australia fixtures however levels are still around USD 9.00 pmt. There is also a steady amount of East coast Australia cargoes, but not affecting rates in any positive direction. Demand for period ships is generally healthy, but with the mentioned expected rally owners are holding back".
On the Panamax market, Fearnleys commented that "this week started with a cold shower on the north Continent when suddenly ships fixed USD 12k for quick rounds down USD 3k from last Friday. We see quite a bit of fresh requirements, but a long list of open ships makes sure that the market is still sliding down. For longer duration business in the Atlantic ships can still get around USD 14k. The fronthaul market is sliding together with the rest of the market, but some players argue that the USG grain market will come back again before Christmas considering the record harvest season in the USA. Now ships fix around USD 18+800k for trip via USG to China. The Pacific has kept on falling during this week. Now ships in north China get around 10k for round trips, with several fixtures already fixed at four digit numbers as well. Not that many long period fixtures reported, but market should be around USD 11500 for 1 year".
Finally, on the Handy front, Fearnleys said that "the Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cover their stems. Fhauls bss Cont-Med delivery are also seeing increased rates and we expect the Atlantic to continue its firming tendency into next week.After last week´s rate increase in the Feast we are now seeing the activity coming off. Owners with ships open in South China rating USD 13k for trips via Indonesia to India and chrts now looking to plan ahead and take in ships from North China in order to get the discounted rate. The better paying nickel ore rounds are being fixed in the mid-teens and the period market is picking up pace. Some owners would like to cover their positions over New Years and now starting to look for takers".
In its third quarter results report, owner of dry bulk carriers Knightsbrige (which also owns several VLCC tankers), said that the bulk market surprised forecasters during the third quarter. Cape spot earnings peaked at $42,200 per day on September 25 and the average spot earnings for the quarter was $19,000 per day. Under normal circumstances dry bulk analysts have a fairly common view of the utilization of the dry bulk fleet, but the spread between the estimates has been wider than normal. Cape earnings during the third quarter should indicate a utilization of 82 to 84 percent based on historical data for that segment.
After iron ore inventory draw downs for several months during the first half of 2013, imports in the third quarter resulted in slightly higher stockpiles in major Chinese iron ore ports. A massive 217 million metric tones (mt) of iron ore was imported during the third quarter. This compares with 185 million mt in the same quarter last year, which represents an increase of 17 percent. Coal imports to China reached 70 million mt in the third quarter this year compared to 52.4 million mt in the same quarter last year.
"Vessel values have reacted positively to the improved spot and longer term time charter markets. A Cape resale has over the year moved from $44 million to $52 million (concluded last month) and a 5 year old Cape has been sold at $40 million compared to $34 million a few months ago. In October, Korean yards are said to have concluded newbuilding orders for their outline specifications for delivery 2015/16 at $55 million. Values for smaller vessels have improved as well, but gains are more modest.
One important part of dry bulk fleet utilization is speed and consumption optimization. Since March 2011, bunker prices have been on or above approximately $600/mt. It took some time, however, before owners started to slow steam on a broader scale. With a bunker price of $600/mt the optimal speed in a $30,000 per day market is considered to be 12.5 knots for a Cape size (basis average laden and ballast). During the third quarter, some owners started to increase speed when the market picked up, but quickly reduced speed when the market softened a few weeks later. The third quarter of 2013 was maybe the first and most active quarter when it came to pro active speed and consumption optimization. It is important to bear in mind that the total fleet has never sailed faster than 13.7 knots on average since 2007, so the impact should not be over exaggerated but it might contribute to a floor and ceiling in freight rates in the medium term" the company concluded in its report on the market.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
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- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Siam City Cement - Thailand
- The University of Queensland
- Marubeni Corporation - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
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