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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, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
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