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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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- Sical Logistics Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- Australian Coal Association
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
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