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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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Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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Showing 3726 to 3730 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
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