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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
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- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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