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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, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
Wednesday, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
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- Central Electricity Authority - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
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