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Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from the shadows as of late. During the past few days, the market's benchmark, the Baltic Dry Index (BDI) has been on a slow, yet steady rise, ending yesterday's session, once again on the upside, reaching 1,250 points. Capesizes were the dominant force yesterday, with the respective Baltic Capesize Index gaining 137 points on the day to reach 2,049 points. Panamaxes were still suffering, while the other two smaller segments, i.e. the Supramax and Handysize ones, were steady on the day.
In an announcement issued yesterday on the occasion of its 2013 results, dry bulk ship owner Pacific Basin, noted that the cyclical upturn of the dry bulk market has started. According to Mr. Mats Berglund, CEO of Pacific Basin, “dry bulk shipping in the first half of 2013 experienced its weakest market conditions since 1986, while an improved second half demonstrated encouraging early signs of a cyclical upturn with increased rate volatility".
In a separate weekly report, shipbroker Fearnleys, commented on the Capesize market that "Cape paper continues to be aggressively bought and it appears the physical has been ´kickstarted´. Some gains on the West Australia/China and Tub/China route have been witnessed in the last few days (fixing slightly north of 9 PMT and 21 PMT respectively at the time of writing). The steep contango to spot continues to widen. Q3 FFA contracts have soared up to USD 26, 250 while the rear end of the curve has also pushed up with Cal 15 trading at nearly USD 24k. The market is pricing in increased iron ore supply from West Australia set for Q2, and if this displaces domestic Chinese production, it will create a very favourable environment for Capes. We are already witnessing the iron ore price declining to its current level USD 116 PMT (62% CFR Tianjin). Period rates are reflecting the paper, and USD 25, 500 is being bid on good units for period of 2 years now", the shipbroker said.
It added that "the Panamax market has continued to decline in the Atlantic. Some owners are willing to take the lower levels whereas others are holding back and waiting for a better tomorrow. T/A rounds are now being fixed at levels around 6-7k depending on the trade on T/C, whereas voyage rates are easily 50% less. Ships able to breach INL are in for a small premium. In the Eastern hemisphere the week started off positive, via a wait and see mode to gradually become weaker. Pacific rounds are being fixed in region of USD 11-12k for NOPAC, less for Indo/India. With a huge number of ships in ballast for ECSA grain business, the recent upward trend has changed to a negative. 15+500 APS is the going number / 39 pmt. The gap between spot and period market is still significant. A Kamsarmax was reported fixed for one year at USD 15,500 bss Spore delivery, another 14200+425 GBB bss Cape Town whereas good Panamaxes should be able to get high 13´s for same. Expectations for ECSA grains are still alive", Fearnleys said.
Finally, on the Handy markets, the shipbroker said that "the Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead by less activity and fewer fresh cargoes to be fixed. In the Pacific however we see rates coming up a bit. Coal cargoes for early March dates have been covered and prompt ships open in Singapore area are able to achieve a good 14k for Indo coal rounds. NoPac rounds are being fixed at around USD 10k for ships with good specs and the activity for short periods are again back in the market. Owners are asking 13k for short periods bss Feast delivery while some chrts are holding a bit back before willing to come close to those levels".
Meanwhile, on the demolition front, where things have slowed down considerably as a result of improved market sentiment, shipbroker Intermodal noted that the market "is still reigned by Indian breakers, who currently appear to have ousted the rest of the competition from the race of securing demo candidates. As a matter of fact, with the exception of a couple of vessels, the rest of the deals reported this past week appear to have ended up in Indian hands. Breakers in the country have been enjoying the stability of the local currency, which posted its biggest winning streak against the US Dollar in the past couple of months after strengthening for three days in a row to this morning. At the time domestic steel mills have been preparing for another price hike, fact which offers further assertion to breakers operating in the country that their bids have been moving towards the right direction. While Bangladesh has managed to keep its prices stable, China and Pakistan appear to have no intention to compete at these high levels, with the former allowing for the gap between themselves and India to climb to over 120 $/ldt. Average prices this week for wet tonnage were at around 340-470$/ldt and dry units received about 330-460$/ldt.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
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