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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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Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
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