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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, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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Showing 3511 to 3515 news of total 6871 |
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- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- The University of Queensland
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
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