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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, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- White Energy Company Limited
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
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