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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$/ldt.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
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- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Minerals Council of Australia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
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