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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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Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
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