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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, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- The University of Queensland
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
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