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Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping market, in particular dry bulk. According to a note released yesterday by BIMCO's Chief Shipping Analyst, Mr. Peter Sand, "despite being a little down on the 2013 GDP growth of 7.7%, the growth target of 7.5% set by China’s Premier Li Keqiang at his first appearance at China’s annual parliamentary session bodes well for shipping, trade, and commodity demand in 2014".
According to the note, in 2013, Chinese seaborne imports surpassed the 2 billion tonnes, mark according to CRSL. To put that into perspective, it means that China has now more than doubled its imports from one billion tonnes in 2008 to 2.1 billion tonnes in just five years.
Imports of dry bulk commodities dominate the trade by accounting for 74% in 2013. Led by iron ore, which accounts for 39%, the scope of imports become larger and wider every day. Peter Sand, says: “The importance of China to the shipping market is second to none. This goes for all major shipping segments. In spite of leaving the double-digit growth rates behind us in the previous decade, the sheer size of the world’s second-largest economy now gives so much impetus to our industry that we have become addicted to China.”
The announcement of the target, delivered during the 12th National People’s Congress on 5 March, comes after a couple of month where the Chinese economy has shown some weakness in Purchasing Managers Index (PMI) developments. Recent development in Chinese PMI showed an 8-month low in the official PMI, coming in at 50.2 in February. The HSBC China Manufacturing PMI posted at 48.5 in the same month supplements this slowing tendency. Both indexes agree on tougher conditions for smaller and medium-sized enterprises, whereas larger enterprises seem to fend off the headwind rather better. The average of China’s manufacturing PMI for 2013 was 50.2 for the HSBC/Markit indicator, which is more focused on smaller and medium-sized enterprises, whereas the official PMI indicator, which is more focused on the larger enterprises, averaged at 50.8. Going forward, expectations are very positive for both China and the world as such.
Sand went on to add that “a strong shipping market support from China is vital to pave the way back to a future sustainable market. Past contributions have been enormous. If the future holds more of the same, we will continue to see improvements in the fundamental balance between supply and demand”, the shipping analyst concluded. Meanwhile, the dry bulk market continued to make progress, with the BDI (Baltic Dry Index) ending yesterday's session on yet another rise, with the Capesize market stealing the "show" once again. The BDI was up by 89 points to 1,480, with the Capesize Index rising by an impressive 234 points and reaching 2,830 points. Once again, the irregularities have made their appearance, with Supramaxes now trading higher (1,122 points) than their larger counterparts, the Panamaxes (1,056 points).
Meanwhile, in its latest weekly report, shipbroker Fearnley's noted on the Capesize market that "period rates have been improving steadily for some time, however over the last week rates have made some serious jumps. One year fixtures for 180k dwt are expected to be concluded in excess of USD 30k shortly, and Tubarao/Qingdao has in a relatively short period of time improved from sub USD 20 PMT to mid-20s. West Australian iron ore has been fairly unpredictable lately with earlier ships achieving a discounted freight compared to later ships, which is unusual. Now however the prompt positions are again achieving a premium with last done for such a position being USD 10.80. The expectations remain positive and the pace of the recovery in rates seems healthy".
On the Panamax front, Fearnley's said that "the Panamax market is struggling in both hemispheres. The Atlantic market has suffered for several weeks due to an overcapacity of tonnage and lack of fresh cargoes while we now see that the Pacific might be in for the same treat. Pac rounds are paying around 11k at time of writing. In the Atlantic, rounds are being fixed in region of USD 4-5k which is well below OpEx. Fronthauls are also suffering from lack of fresh iron ore and grain business, which again has caused rates to drop down to around USD 15/16k. The period market is surprisingly stable with rates hovering around USD 14k for 11/13 mos. The latter is much influenced by the strong FFA market and expectations for better days to come", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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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 ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
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