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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, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
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- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Minerals Council of Australia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
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