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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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- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- The University of Queensland
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- VISA Power Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
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