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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis that caused the biggest crash in freight markets in decades. Most carriers, both dry bulk and tankers were sidelined by their owners who chose not to operate them, as it was consting them more to run the vessels, than what the market was offering at the time.
Fast forward five years later and both the dry bulk market, as well as the wet one are experiencing positive signs of improvement, although the fundamentals aren't equally positive for the long run. Starting with the dry bulk market, the BDI has firmly rebounded once again above the 2,000-point mark, poised to end the year on a high note, with the final months of the year proving to be a happy period for most ship owners active in the dry market.
According to shipbroker Fearnleys this week, "the spike in Capesize rates that was expected and anticipated for this quarter finally became a reality and the average tc rates are approaching $30,000 p/d. The iron ore is the main driver, with Brazilian, Australian and South African exports active at the same time. This has resulted in a lack of early tonnage, and rates are still improving at the time of writing. The period rates are improving accordingly, with one year rates presently being concluded in excess of usd $20,000 p/d".
In the Panamax market, Feanleys noted that "the firm tendency continues. The Atlantic is tight for tonnage with Owners increasing their rates or holding back for the better deal tomorrow. Charterers paying $16.000 p/d for T/A and $26.000 p/d for fronthaul to cover prompt requirements. US grains is still moving at about 55 pmt. The firm sentiment is also reflected in the Eastern Hemisphere, predominantly by Indonesian coal and some short period activity. Levels from $12.000 p/d up to healthy $15.000 p/d for Aussie rounds reported. Short period up to a year at about $12.000 p/d. Seasonal social activity has not reduced activity considerably - yet".
Similarly, in the wet segment, oil demand from Asia and especially China has intensified over the past couple of months and especially during the end of October, providing solid ground for gains across most of the large crude oil tanker Eastbound routes. As such, the Far East oil demand has provided the foundation for a strong boost in freight rates for several routes, like the TCE for MEG/Japan, which almost doubled at the start of November, reaching levels of $42,000/day. Similarly, the WAF/F.East route gained by around 40% in just one day, touching the very lucrative level of USD 98,939/day.
According to Intermodal's analyst George Lazaridis, "the VL’s were the first to show the major gains from the seasonal spike in demand, with interest from the Far East clearing much of the excess tonnage and leaving prime conditions for even a profitable spike in freight rates. Despite similar not having spilled over completely to the Suez and Afras there have been notable gains there two and with the new wave of fresh inquiries rapidly poring in, November could end up being the “hottest” month yet. Suez and Afras also shoed a bit of difficulty in the first weeks of the month especially in the Black Sea/Med region, although this seems to have reversed fairly quickly and earning seem to have now returned back to normal".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
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