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Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-point mark, where it stood for most of 2013, erasing in effect the fourth quarter rise of the previous year. Yesterday, the BDI ended slightly higher at 1,092 points, up by six points, the first upward session in days. The slight uptick was triggered by a sudden increase in the capesize market, with the Baltic Capesize Index up by 31 points, to 1,575. Apart from the Panamaxes and Handysizes which remained unchanged on the day, the only other major news was the slight retreat of the Supramax market.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnleys said that "the rates remain weak in both Atlantic and Pacific, and its generally low activity mainly due to the hollidays in China. However there is an anticipation the floor has been reached for now, although a serious improvement is not expected prior to the end of the hollidays. This week West Australia round voyage has improved from 7,10 to 7,30 and tub / qd is still in the very upper 19s. When freight rates start to move in a positive direction, things may move quick however there are still a good number of ballasters and early ships which most likely will slow the development to some extent".
On the Panamax front, Fearnleys mentioned that "the Chinese New Year Luna holidays has brought the trading to a minimum this week. Far east almost absent and Atlantic on slow steam. Some fresh coal orders from USEC and USG was covered at very low levels. US coal exports also down from january 2013 which also may have contributed to the low activity and rates for January. On the contrary the period marked seems to have stabilized and player seems to have a more positive outlook on the rest of the year. A modern Kamsarmax reported fixed for 2 years at 15k with option 1 mora at 16k. The upcoming grain season may have an impact on panamax rates for Q2 and predictions that iron ore export from Brasil will increase as well. T/A now just arnd 10k. Nopac under 9 level, fronthauls despite little done arnd 16.5 + 650.00 aps. 1 year period 14-14.5 k".
Finally, on the Handy market, the shipbroker stated that "due to ongoing Chinese new year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/early March dates. T/C rates seem too slowly leveling out. Supras open China can be fixed around 4k+40k aps for SE.Asia coal rounds. For Indo / Idai Coal trips vessels can achieve around usd 6K. For sand cargos from Cambodia vessel got fixed at around usd 5K. NOPAC, large modern got fixed at around 8K + 330 BB. For short period vessels trading around usd 9-10K depending on spec", Fearnleys concluded.
Meanwhile, in its dry bulk market outlook, issued this week, ship owner Knightsbridge Tankers said that "over the last three years, the focus has been on the supply side of the dry bulk industry. Overcapacity has caused great concerns with an official order book representing approximately 50 percent of the total fleet at the beginning of 2011. The order book has gradually been reduced and by the end of 2013, it is estimated to be approximately 17 percent of the existing fleet albeit a much bigger fleet than three years ago. In 2013, approximately 60 million dwt was delivered and approximately 22 million dwt of the dry bulk fleet was removed. Consequently, net fleet growth ended at seven percent which was considerably lower than in the three previous years".
It added that "the "China story" remained intact in 2013 and China accounted for 83 percent of the global demand growth of 200 million tons. Last year, China imported a total of 1,500 million tons of dry bulk commodities, compared to 750 million tons in 2008. This represents approximately 35 percent of global dry bulk trade measured in volume and more than 40 percent in ton miles".
It concluded its statement by noting that "expectations for a higher utilization of the dry bulk fleet are high among many analysts and owners. Consequently, ordering of new capacity was quite brisk in the second half of 2013, leading to higher new building prices. From a low in the first quarter of last year, prices rose by approximately 15 percent on average. Asset prices for second hand vessels, in particular Capes, witnessed even stronger gains. The value of a second hand Cape increased by more than 25 percent last year", the shipowner said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
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 ...
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- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- The University of Queensland
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
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