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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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- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- White Energy Company Limited
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
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