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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
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- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Economic Council, Georgia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Planning Commission, India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
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