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