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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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