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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, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
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- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
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