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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, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
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