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