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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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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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Showing 3431 to 3435 news of total 6871 |
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- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
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