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Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the looming rally. According to the latest monthly report from shipbroker Intermodal, “it has without a doubt been “a cruel, cruel summer” for the dry bulk market so far and with second hand values still standing high com-pared to last year, the anticipation for the freight market to recover, feels a bit more intense than usual. So what could Q4 be holding for dry bulkers? Are we in for a similar end of year surge like the one witnessed last year”, wondered Eva Tzima, Research Analyst with Intermodal.
According to the analyst, “in the case of the Capesize segment, all eyes are currently turned on China and the iron ore trade. In the beginning of the month, stock-piles at the country’s ports stood at record high levels. Although high levels of iron ore inventory usually reflect that strong steel production is anticipated, it doesn’t look like this is the case here. While steel production levels have been kept high throughout the first half of 2014, profits for the steelmaking industry have been sluggish. This most likely means that production remained at high levels through-out the year due to the Chinese government’s efforts to sustain growth with direct investments in the industry and in anticipation of greater future demand, a demand which has yet to be witnessed”.
Tzima added that “the continuously declining price of the commodity, which in June reached its lowest level since September 2012 has also sustained port inventories at high levels, despite the fact that end demand wasn’t keeping up pace. If we look back in the summer of 2013 things were dramatically different, with port inventories standing well below the historical average, at around 70 million tonnes, compared to 113.65 million tonnes a few weeks ago. Since the restocking started in September of 2013, inventory levels have been on an upward trend, currently leaving little space for aggressive imports and even less room for Cape rates to thrive in the same way they did during the last quarter of last year.
Moving on to the smaller size segments, the upcoming grain season is what the market is currently focusing on and it looks like grains might come to the rescue this year as well. Europe has been witnessing excessive rainfall lately and as a result, the harvest, in France, Germany and other traditional grain producers, is being delayed and its quality jeopardized” she noted.
According to Intermodal’s analyst, “this means that the EU will have to intensify its imports and consequently help seaborne trade volumes, with business in the Black Sea being the first beneficiary in line. In fact, Russia is currently exporting wheat at record pace, as despite sanctions short term finance has not been affected and therefore wheat trade is not being obstructed. Ukraine’s exports are also due to keep the Black Sea busy, while both countries are experiencing a near record harvest”.
Meanwhile, “moving on to the other side of the Atlantic, the US has been con-firming that a bumper harvest is expected, while at the same time prices for the US grains have been fairing at very attractive levels. Similarly to the last quarter of 2013, it looks like Brazil will once again play an important role in the performance of the USG business in the following months. The country has temporarily eliminated the Common External Tariff, which is traditionally imposed on imports from non-Mercosul countries. An identical policy was set last sum-mer, just in time before North American wheat cargoes en-route to Brazil started flooding the USG and pushing rates for the geared sizes up. With Brazil being uncertain as to whether Argentina would be able to satisfy this year’s demand either, the country has again distanced itself from its traditional wheat supplier and a similar rec-ord volume of US imports is anticipated this year as well”, she noted.
Tzima concluded that “so it could well be the case that during Q4 we end up witnessing a market of two speeds, with the performance of the Capesize market lugging behind that of the geared sizes, as China appears to have turned its back on Capers for now. We are always in for a good surprise that could come in the form of stronger stimulus by the Chinese government or an upward revision of global growth. Any hypothesis aside though, my sense is that we have hyper inflated our expectations for the last quarter of the year, in the same way we did at the end of 2013 for the entire 2014, while in terms of tonnage performance; bigger might not be better this fall”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
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