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