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Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forward, rising by 35 points to 902 points, on the back of increased Capesize demand. The Baltic Capesize Index (BCI) was up by 152 points to 1,919. The rest of the submarkets thought were once again on the downside, most notably the Panamax market.
According to the latest report from shipbroker Fearnleys, on the Capesize market there were “glimpses of improvement following days of softening, and consequent surge of conficence for the big ships as major miners keep taking july loaders on the important Brazil/China ore route. Average daily earnings are still down some some usd 2k (to usd 12800) w-o-w, but with the present push on fronthaul iron ore, near-term recovery is expected. Volume on the Waust/China trade remains unimpressive, with freight rates struggling to break the usd 8 pmt barrier and tonnage supply in excess. Paper has taken a hit, with period activity consequently being very limited”.
On the Panamax front, Fearnleys noted, “what a week! We are very close to breaking the all time low record and TA ´s are down 62% w-o-w and now fixing at ard Usd 1k and even below 0 at voyage bss. It is simply not enough cargoes and the activity is extremely low. Chrts entering the market with their cargoes are fixing within 20 minutes and owners are probably better off dropping the anchor at this point. In the Pacific we see the same tendency allthough the levels are a touch higher than in the Atlantic. Pac rounds are now being fixed at ard Usd 3,5-4k. Well below Opex. The period market is fairly active and good kamsarmaxes are able to fetch ard Usd 9k for shorter periods over the summer”, said the shipbroker.
Finally, “the Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rates decline with 11,54% w-o-w much caused by a growing tonnage list and few fresh cargoes. The coal and iron ore sales seems to be gone as the majority of cgos being shipped is grains. Also in the Feast the market remains weak even though we see more cargoes entering the market, it is just too many ships competing for the same cgos. Indonesian rounds to Thailand are being fixed at ard Usd 6k + Usd60k GBB bss APS delivery while NoPac rounds are being traded in the region of Usd 9,250+Usd 300k GBB for Supras. Several owners now want to fix out their ships for short periods at a bit healthier numbers than the spot market is showing, but there are not that many takers”, Fearnleys concluded.
Meanwhile, in a note released this week, Commodore Research & Consultancy said that “recently released data shows that average daily crude steel production at China’s key steel mills hit a record high of 1.833 million tons during the first ten days of this month.
Previously, daily crude steel production at China’s key steel mills during the last eleven days of May averaged 1.767 million tons – which was a high level, although down from the previous record of 1.824 million tons seen during the first ten days of May. It is very encouraging that Chinese steel production has set another record this month. As we have continued to stress, Chinese steel production has remained very strong during the last several months. While Chinese steel production normally comes under a small amount of pressure in June (while still remaining at robust levels), it is very encouraging and not surprising that production has set a record this month. As we have been discussing in our Weekly Dry Bulk Reports and Weekly China Reports, demand for steel in China has remained firm as the government continues to green light new infrastructure projects and works towards further stimulating the economy.
In addition, low iron ore prices have allowed profit margins at Chinese steel mills to improve significantly since the start of this year. Global demand for Chinese steel exports has also remained robust, even as global steel production has also set a new record this year”.
It added that “record steel production means record iron ore consumption. Overall, Chinese iron ore consumption has remained robust this year and Chinese iron ore imports have continued to surge. Chinese steel mills continue to purchase a record amount of iron ore imports this year, with Chinese iron ore imports this year up by approximately 20% from last year’s record level. Going forward, Australian and Brazilian iron ore production is set to surge even further and steel mills will continue to happily purchase low-priced high quality iron ore from Australia and Brazil.
At the same time, more Chinese domestic iron ore mines will likely suspend iron ore production as they can’t compete with Australian and Brazilian mines with much lower costs. Seaborne iron ore trade is poised to remain robust”, Commodore concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
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