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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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Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
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