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Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in the grain market, as a result of the crisis in Ukraine is a major concern, potentially altering trade routes and patterns, the fall in iron ore prices could lead to yet another wave of restocking among Chinese steelmakers, which can seize the opportunity to attain the raw material at significantly lower prices. Yesterday, the Baltic Dry Index (BDI) increased by 15 points, reaching 1,468 points, although during the week it had briefly surpassed the 1,500 point mark. The "charge" was led by the Capesize segment, which was higher by 54 points yesterday, with the Baltic Capesize Index (BCI) reading 2,654 points. Smaller increases were also evident in the smaller ship classes, particularly in the Supramax market.
In its latest weekly report, commenting on the Capesize market, shipbroker Fearnleys noted that it was "a tumultuous week for the big ships, which has seen significant value chipped off the forward curve (Q4 down $4,500 w-o-w) and as of Wednesday, a significant correction in physical rates. (The West Australia index rose to low $11´s before sharply correcting to $9 PMT levels at the time of writing.) The week began with Iron Ore plunging to $104 PMT (62% FE CFR Tianjin), the largest daily loss since 2009, amid talks of a credit squeeze and mounting port stockpiles in China. The arguments will continue as to whether this commodity price correction will have a bullish (cheaper relative foreign iron ore availability) versus bearish (signs of a general reduction in demand) impact on cargo flow but what is undeniable is that a few more questions are being posed. In light of this, it is perhaps not surprising that we saw a 5-year deal on a nice 180kdwt ship at 28k/day fail early this week. Further losses on the paper may see more charterers retreating to reassess their period plays", Fearnleys noted in its report.
Meanwhile, on the Panamax market, it said that "the recent optimism driven by the "caper" and the paper has evaporated with further negative support from a clear lack of fresh requirements. The poor trend is obvious in the Atlantic where Owners are willing to take 5k on T/C for a short run, and less on voyage. Chrtrs have a growing list of candidates to select from, but as Owners are reluctant to fix there could be pockets giving better returns. However, optimism is still alive among all the Owners of the substantial number of vessels heading for ECSA grain to catch a Brazilian contango. Rates have in fact improved to 17k + 700 GBB APS ECSA and well above 41 pmt for April loading. The eastern hemisphere is softening for the same reasons, lack of activity and/or repositioning for ECSA grains. Typical levels at 10-11k. NOPAC activity is scarce. The forward curve has lost momentum, whereas period rates still hover in the 14-15 range for short period up to a year".
Finally, on the Handy markets, Fearnleys said that "Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are done at 12, 750. Fronthaul typically at 19k. The Far East market is in an upward trend, with few ppt vessels available. For short period vessels open N.China and S.China mid 14´s is achievable. NOPAC runs in the mid 13k where trips via Indo to EC India paying low 15k. Vessel in WCI can achieve around 12k for trips to Feast where vessels in MEG and Red Sea were fixed at around 14k for same direction", the shipbroker concluded.
Meanwhile, on the demolition front, shipbroker Intermodal said that "limited activity and firm numbers, is pretty much what is currently describing the demolition market. Indian breakers, being the ones that usually set the tone across the board, are currently enjoying strong fundamentals domestically. On the one hand the Indian Rupee is continuing its rally against the US Dollar. The Indian currency has in fact touched a seven-month high against its counterpart yesterday, as foreign funds have flooded both the Indian debt and equities market. At the same time, steel prices have held firm, at levels which allowed local buyers to feel even more confident in relation to those high end bids that we have been witnessing the past few weeks. Across the Indian Sub-Continent Pakistani breakers have finally left the sidelines and got back into action snapping one of their favorite type of vessels, while at the same time increasing their offers to match competition. The rest of the market remained stable, with Bangladeshi breakers assuming a small piece of the action and those in China sitting still for yet another week. Average prices this week for wet tonnage were at around 330-470$/ldt and dry units received about 320-465$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
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