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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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Tuesday, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
Monday, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
Monday, 24 November 14
Q1 2015 FOB NEWCASTLE COAL SWAP CLOSED AT $ 52.73
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.73 on 21 November after losing US$ 0.40 (-0.75%) month ove ...
Monday, 24 November 14
CFR SOUTH CHINA COAL: Q2' 15 COAL SWAPS CLOSED LOWER COMPARED TO Q1' 15 SWAPS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 0.63 (-0.99%) month over month and US$ 0.12 (-0.19%) da ...
Sunday, 23 November 14
SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
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Showing 3351 to 3355 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
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