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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
 Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities rises, according to the Dry Bulk Forecaster report published by shipping consultancy Drewry.
Freight rates have been depressed due to a continuing oversupply of vessel capacity, despite recent moderation in the growth of the fleet. Drewry’s Dry Bulk Freight Rate Index, a weighted average of earnings across multiple trades, declined 39% in the six months to June.
Drewry estimates that the dry bulk global fleet grew at an annual rate of 1.3% in the second quarter of 2014, down 0.4% on the first quarter. Some of this growth was the result of declining inactivity as vessels previously laid up due to bankruptcy proceedings came back onto the market. But much of the damage relates to over ordering of previous years, which has left the industry with an operating surplus of over 240 million dwt.
Despite this, activity in the newbuilding market has increased, due largely to demand for eco-vessels. Ordering for Capesize and VLOC vessels has increased on a positive outlook for coal and iron ore trades.The current overall orderbook represents around 23% of the global fleet.
On the demand side, strong growth in Chinese iron ore imports were partly offset by a contraction in coal and grain shipments. Chinese imports of iron ore grew 12% quarter-on-quarter, driven by domestic smelters’ preference for high quality and low cost imports. Grain shipments were impacted by adverse weather conditions and geopolitical issues in Eastern Europe. Chinese steam coal imports declined around 4% in the year to June, reducing earnings of Capesize and Panamax vessels. Chinese imports of iron ore are expected to slacken off through the remainder of the year due to large stockpiles, but demand is forecast to grow at an annual rate of 6% in the period to 2019.
“The immediate outlook for bulk shipping is positive,” said Rahul Sharan, Drewry’s lead dry bulk shipping analyst. “Despite weak market conditions through the first half, average time charter rates for 2014 are expected to be higher than 2013 as Drewry expects rates to increase in the second half.”
Driving much of this recovery will be increased demand for both major and minor bulk commodities.
“Looking further ahead, we expect earnings to recover gradually across all vessel segments over the next few years,” added Sharan.
Source: Drewry Shipping Consultants / Hellenic Shipping
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Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
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- Economic Council, Georgia
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- Toyota Tsusho Corporation, Japan
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- Videocon Industries ltd - India
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- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
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- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
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- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
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- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
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- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
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- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
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- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
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- Jindal Steel & Power Ltd - India
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- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
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