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Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it is apparent that the market is rising, claimed BIMCO in its latest market analysis for the April/May period. For this period, BIMCO believes that the level of Capesize TC average rates will hover around USD 12,000-22,000 per day. Panamax TC average rates will still feel the supply pressure in the region of USD 5,000-10,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 10,000-14,000 per day interval supported by more Atlantic cargoes, whereas Handysize rates seen in the solid region of USD 8,000-10,000 per day.
DEMAND
According to BIMCO's report, "while freight rates for Capesize ships have fended off the talk of a slowdown in China in an impressive fashion, rates finally took a minor hit on the final trading days of March. As the strong sentiment eased, it caused a derivatives sell-off in its wake. When comparing the performance of freight rates in the first quarter of 2014 to previous years, it becomes clear that the market is rising. In the first quarter, average freight rates are significantly up from the multi-year low Q1 rates in 2013. Capesize rates went up by as much at 167% at USD 16,198 per day, whereas the other three dry bulk sub-segments all improved by 50% on last year’s first quarter TCE average earnings".
BIMCO added that "despite the year-on-year improvements, the complete lack of volatility outside the Capesize segment means that spot operators’ trading possibilities have been scarce. Time charter rates are steadily moving up, while spot rates are moving sideways. In the anticipation of an improving freight market going forward, owners and operator have increased their spot market exposure to take advantage of this. Following the weakness around the Chinese New Year, Capesize spot rates bounced back surprisingly strongly from the USD 8,000 per day level in early February to deliver a March average at USD 22,000 per day. That performance also lifted the period market to highs not seen since 2010. Rates for 6-12 months’ time charters hit USD 30,000 per day during the second half of March".
In terms of demand, the report noted that "the South American grain season is at its height in April, May and June, with Brazil confirming its position as the world’s leading exporter of soybeans, with 45 million tons of exports. On the imports side, China is on the move in a big way, expecting to import 68.5 million, up by 15% on last season. China accounts for 80% of the incremental volume growth expected for the coming season, providing a lot of tons-mile into the market. 2014 will be a year with full focus on the big mining companies, who are ramping up the production of iron ore by as much as 170 mill tons in 2014. This flooding of the market has already brought ore prices down from USD 130-140 during H2-2013".
BIMCO's Chief Shipping Analyst, Mr. Peter Sand, noted that "ordering activity went up by 258% in 2013 as compared to the year before. During the fourth quarter of 2013, more tonnage (31.7 million DWT) was ordered than in the full year of 2012 (24 million DWT). The stronger demand for new contracts also meant the newbuilding prices from all Far Eastern shipyards have gone up by 12-23% since the beginning of 2013. The larger the ship, the higher the increase has been. Recent resale deals indicate that prices continue to rise on the back of strengthened optimism. At the end of March, four South Korean to-be-built Capesize ships for delivery in 2015/16 had a price tag of USD 60.5 million. This is the same price tag for Japanese built ships of that size, whereas the Chinese newbuilding is set at USD 53.2 million".
The report concluded that "regardless of much optimism in the overall sector, sales indicate short-term pessimism in the Panamax sector. Ships with a capacity of 80,000 DWT, built in China and delivered in 2014, come with a price tag of USD 23-24 million. The newbuilding price for same ship size and build for delivery in 2016 is USD 30 million The still-hectic delivery pace, at 3.5 Panamax ships a week, is part of the explanation for the discount on soon-to-be-delivered Panamax tonnage. Following some frantic delivery years, the pulse of shipyard output is significantly down from the one-Capesize-ship-a-day of the peak years (2010-2012) to more normal levels, going forward at 2.5 ships per week in any given dry bulk sub-segment".
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Australian Coal Association
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
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