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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
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