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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
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