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Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's session up by a solid 51 points, now standing at 1,621 points which is a new high for the year. The main reason for this has been the booming Capesize market, with the Baltic Capesize Index (BCI) rising by an impressive 147 points on the day and reaching 3,129 points. By contrast, the recent Panamax lucklustre performance hasn't yet been remedied, while smaller ship classes have kept on their upward trajectory, but a rather slow pace.
In its latest weekly report from shipbroker Fearnleys, commenting on the Capesize market noted that "rates have recovered somewhat after the paper sell off last Wednesday. West Australia to China rates have climbed back toward USD 11 PMT, and at the time of writing, rates in the mid USD 11´s are being rumoured fixed for mid April dates, which represents a healthy push. Saldanha Bay to China has similarly witnessed gains of about USD 1, whilst rates for Tubarao/China have held steady at around USD 27 PMT. Consistent volume across all basins should see rates hold up or increase in the coming weeks. The forward curve appears more balanced as the steep contango to spot has been narrowed. There has been notably less period activity this week. However, with Q3 FFA contracts pushing above the 28k market, it may not be long before we see the 2H of 2014 valued above 30k, bring more charterers (and owners) back to secure longer term cover", the shipbroker mentioned.
On the Panamax front, Fearnleys added that "while last week came with strong activity in ECSA and rising activity in the Atlantic market, it all disappeared this week. Monday morning started slow with little fresh requirements and it continued that way. Now we see many spot vsls on the Continent having to drop anchor and wait for interesting business proposals. Same situation in the USG where spot ships compete for cargoes that would require one more week of idling. The Atlantic index is around USD 6k, but that is subject to finding a cargo at all. The encouraging signs we saw last week from ECSA also disappeared. Early April grain cargoes Santos/nprc is now done at USD 39.50 pmt, down around 2 dollars from last week. The Pacific on the other hand is more positive, nopac and Australia are both active and ships gets around 12k daily. Also the period market is holding up, 1 year periods still going around 14k and more for very nice ships".
Finally, in the Handy markets, Fearnleys stated that "from a slight improvement in the Atlantic to a more mixed picture mid week. North Atlantic rounds showing softening signs whereas South Atlantic is on the rise. Trips from USG to Med under pressure - down to 17k but fronthaul USG/China done up to strong 25k/day. ECSA business improving for the owners, now able to achieve around 15 + 550 bss APS for trips out. Pacific has been strong w-o-w but also showing some signs of weakness, in particular for vessels open in Singapore due to the high number of tonnage carrying sand into Singapore. For Indo/India rounds vessel open Spore fixed around 15k levels. Indo/China rounds paying a bit less compare to India levels at around 14k. Short period up to a year moving up to high 14´s", the shipbroker concluded.
In a separate report, commenting on the demolition markets, which could very well prove crucial to the sustained recovery of the dry bulk market, shipbroker Intermodal said that "the same story describes the demolition market for yet another week. Numbers are going higher, activity remains limited and the entire market is still waiting for a downward correction to the recent rally which has yet to materialize. Prices have even surpassed 500$/ldt, which is what happened in one instance so far but still shows the strength and the momentum of the current market. Despite the small correction of the Rupee against the US Dollar this past week, the Indian currency is still trading at very good levels, fact that reassures local cash buyers and allows them to increase their bids even higher. Even though the overall market activity is still slow, Bangladesh appears to have secured one unit and therefore a piece of the action, while breakers in Pakistan have remained fairly quiet this week, holding their offers stable despite some good performance of the local currency. Further to the East, there was finally some action in China, but local prices are still stalling at the low 300 $/ldt with no big chance of offers increasing anytime soon. Average prices this week for wet tonnage were at around 330-475$/ldt and dry units received about 320-470$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
Sunday, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
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- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
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- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
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