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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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Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Tuesday, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
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- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
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