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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the back of improving fundamentals. The market's benchmark, the Baltic Dry Index (BDI) had been on a steady path of declines since the beginning of the year, effectively erasing the rally of the last few months of 2013, which brought back the smiles among ship owners. As such, the latest reversal of fortunes, if sustainable, will bring back optimism. Yesterday, the BDI managed to recover part of the loss, rising by 24 points to 1,398, on the back of a halt of declines the day before that. The main reason for the latest positive development was the rise of the Capesize segment, with the Baltic Capesize Index (BCI) increasing by 67 points to reach 1,929.
According to the latest weekly report from shipbroker Fearnley's, commenting on the Capesize sector, mentioned that "the first half of the week saw the cape indices continue to plummet in particular the C9 TA index, which lost a whopping $30k w-o-w, as Drummond Co. declared force majeure on its coal shipments from Colombia after the U.S. mining company failed to complete on time a port upgrade. The Pacific remains oversupplied and Australian ore miners remain relatively quiet deals concluded between $7.10 and $7.50 range at time of writing. Wednesday has seen a slight uptick on Tub/China rates with the prevailing rate back over the $20 pmt mark. It is noticeable that the inverse to spot has narrowed to almost par (Spot at 12888, Feb trading at 12750) and the curve maintains its strong contango with Q2 trading $15500, Q3 at $20500, and Q4 at $26500. Notable period deals include a 180k dwt vessel with decent speed and consumptions fixing for 1 year at index with a 5% premium".
Meanwhile, in the Panamax market, Fearnley's noted that "the gap between spot and period has increased in both hemispheres. The underlying optimism has been supported by a rising forward curve and major grain houses picking short period and 1-year candidates in Pacific. Owners achieve healthy 14k + del Pacific and above 15k from PMO for 1 year not all that bad considering BPI average 2013 tick above 9700. Mid week, activity in Pacific did show signs of improvement. However, now an increasing que of available tonnage are facing APS rates under 10k for Indo rounds. Strong winter in North Atlantic adding nice premium to brave Owners able to breach INL or move into ice conditions. Otherwise Atlantic seems a bit under pressure for prompt tonnage, fixing mid teens. Fronthaul in a turning point - up from about 23,500".
Finally, in the Handy markets, "in the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upward trend while the rest of the trades are all sliding south. Yet another quiet week in Feast and we expect same trend up to the holidays. There are number of ships open in N.China struggling to find business. Even ships in the south have been laying spot for several days. Vsls open North China are talking USD 6k for Indo-S.China rounds. The trips to India are being fixed on an APS+BB basis and rates are hovering around USD 8k+80k. WCI/MEG and South Africa rates remain firm with a shortage of available tonnage", Fearnley's concluded.
In its latest forecast, BIMCO noted that it expects dry bulk demand to grow at 4.5 to 6%, driven forward by the major bulk trades: iron ore, steam coal and coking coal, with grain in a supporting role. China remains in the driving seat, a scenario that will benefit the larger ships more than the smaller ones. "Following a rather uneventful first half of 2013, July and August were on fire, one that raged through September and October bringing Capesize rates north of USD 42,000 per day. Expanding Chinese steel production and restocking of iron ore were at the centre of the action. In 2014 and beyond, the economic and social progress in the main developing nations that seek inexpensive energy and prosperity will set the tone and affect shipping demand positively. Volatility is likely to rise as the market balance improves. Positive demand shocks will benefit owners and operators to a higher extent than in previous years. The significant oversupply of dry bulk tonnage will, however, influence the pace of the recovery as will the deliveries that follow on from the many newbuilding contracts signed during 2013", BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
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