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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, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
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- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
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- White Energy Company Limited
- Standard Chartered Bank - UAE
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- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Australian Coal Association
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
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