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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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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Posco Energy - South Korea
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
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