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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
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