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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$/ldt", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- The University of Queensland
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
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