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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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Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- Australian Coal Association
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
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