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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, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
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- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- London Commodity Brokers - England
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
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