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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, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
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Showing 3386 to 3390 news of total 6871 |
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- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Australian Coal Association
- Economic Council, Georgia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- PNOC Exploration Corporation - Philippines
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