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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$/ldt.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Planning Commission, India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
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