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