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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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Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
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- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
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