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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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Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
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