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