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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
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 b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
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