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