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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, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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Showing 3816 to 3820 news of total 6871 |
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- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
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