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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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Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Minerals Council of Australia
- The University of Queensland
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
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