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Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. The industry's benchmark, the Baltic Dry Index (BDI) has been falling over the past few days, but has still managed to remain above the 2,000-point mark, ending yesterday's session down by 22 points to 2,134 points. All major dry markets were down, with Capesizes losing 42 points at the Baltic Capesize Index to 3,596, while the Panamax market has been losing the most. The Baltic Panamax Index was down by 63 points to 1,883 points.
In its latest weekly report, shipbroker Fearnleys noted on the Capesize market that "a number of vessels loading or in ballast toward W.Austr enjoying daily returns at close to $45k. However, after two weeks of relentless demand for prompt tonnage, the Aussie miners appear covered for Dec, and Pac rates have plummeted toward their present value of around $25k/day. The heavy Dec ore re-stocking appears to have contributed to some delays in N.Chinese ports, which may further depress Pac rates once these ships open end of month. Fronthaul rates for Jan remain firm and tonnage supply in the Atl appears balanced against cargo volume. As such, paper hangs in the balance. With Jan and Q1 contracts currently trading at 19.5k and 13.5k respectively, the front end appears backwardated against a spot 4TC rate of 33k. Just how far the 4TC rate comes off will be dependent upon seasonal variables, but with increased Austr i.ore supply set to come online for Q1 and Q2, the effect of these variables on rates could well be mitigated compared to years previous", the shipbroker said.
On the Panamax market, it added that "after last week´s rally in the market, we experienced some standoff between owners and chrts this week. Some chrts will have to pay up to cover their end Dec/beg Jan cargos, however, there is not much free tonnage in the North Atlantic. Tarv´s are now being fixed in the low 20´s region and shorter rounds like Murmansk/Baltic rounds have been done in excess of USD 30k on voyage basis. As the holidays are approaching limited activity is expected for the next two weeks followed by a strong start of the New Year. In the eastern hemisphere rates are coming off. The impact on Indonesian ban on coal export causing less activity on the Indo/China rounds. Pac rounds are now being fixed in the low teens. The period market has been somewhat active although with gradually less support from FFA´s short period in the 14k range and one-year around 13k, but takers for period seems to be taking a breather over the holidays for now", Fearnleys said.
Meanwhile, in its recent analysis of the latest trends of the dry bulk market, BIMCO predicted that "the elevated level of Capesize Time Charter average rates will remain volatile and stay around USD 15,000-30,000 per day. Panamax TC average rates will stay in the region of USD 9,000-16,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 11,000-17,000 per day interval, whereas Handysize rates is expected to stay strong in the region of USD 9,000-12,000 per day.
For 2014, BIMCO expects that demand growth will range between 4½ and 6%, indicating that such strong growth will outstrip supply and bring about an improvement to the fundamental balance. According to BIMCO's head of shipping analysis, Peter Sand, "coal exports from the US have been growing since 2007. However, after a record-setting year in 2012, the numbers appear to be dwindling. Even though March this year set a record with 12.3 million tons, 7% higher than the record set in June 2012, it is not representative of the whole year. The exported total in the first nine months of 2013 is 7.5%, lower than that of the same time last year. Seen on a broader scale, however, the 2013 numbers are still around 100% higher than they were only 4 years ago. In combination with the long sailing distances that most US coal export routes hold, the trade has established itself as a key element in the market, also in the future" he said.
As such, "in the light of lower domestic demand for coal in the US due to the excess production of cheap gas, BIMCO expects US coal producers to become a mainstay in the Atlantic market. Down the road, we may also see coal exports from US West Coast ports.
Going forward, EIA expect US coal exports to remain elevated in 2014 too. Driven by the increased consumption of gas within the US at the expense of coal, producers opt for exporting to Europe and Asia. However, productions costs in the US require relatively high sales prices, and with coal being abundant, particularly in the Asian region, the potential seems to be capped for the near-term future. Despite slower Chinese GDP growth in 2014, commodity imports could very well stay strong. This is due to the factors of diversity in suppliers, lower commodity prices, and the lower quality of domestically produced iron ore and thermal coal", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
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- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- White Energy Company Limited
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Deloitte Consulting - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
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