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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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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Planning Commission, India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
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