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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
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