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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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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Indian Energy Exchange, India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
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