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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$/ldt.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
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