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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, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Planning Commission, India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
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