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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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Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
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