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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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- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Posco Energy - South Korea
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
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