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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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Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
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