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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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Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- The University of Queensland
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
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