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Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points, a much better performance than the one noted during the past few months, when it had reached levels well below the 800-point mark. According to a recent market analysis provided by dry bulk ship owners Golden Ocean, “the second quarter took the dry bulk industry by surprise. It did not live up to expectations forecasted by most analysts following the sector.
Capesize vessels earned on average $11,900 per day compared to $16,300 per day the previous quarter. This is still almost twice as much as the same quarter in 2013. The Panamax segment was even a bigger disappointment and earned on average $6,300 per day which was even lower than the same quarter previous year”.
Golden Ocean noted that “Chinese steel production has grown by approximately six percent in the first half of 2014 from the previous six month period, which was in line or even above the consensus forecast. Analysts have also been right in their fleet growth assumptions, so the relatively disappointing fleet utilization has to be explained by other reasons. Continued weak Chinese coal and bauxite import has meant a plentiful supply of Panamaxes to put pressure on Capesize through ratios in the coal trade. Coal demand from China has been considerably lower than anticipated due to more available hydro power and increased use of natural gas.
Chinese imports and production of thermal coal each declined by one percent in the first half of 2014 compared to the first half of 2013. In addition, the ban on exports put in place by the Indonesian Government for nickel ore and bauxite, and a relatively moderate South American grain season did not support the smaller segments which again have a negative impact on Capesizes. China has been drawing down on bauxite and nickel ore inventories for the last six months and unless the ban is lifted sourcing has to take place from longer distances”, said the ship owner.
It added that “iron ore, which is the main demand driver for the Capesize segment, has lived up to its expectations. China alone imported 457 million mt in the first half of the year, representing an increase of 19 percent year on year. The three major suppliers in Australia (Rio Tinto, BHP and FMG) have pushed forward their expansion plans and are expected to add another 130 million mt of extra commodity this year.
Brazil is also adding capacity and if the country is going to reach its target of 350 million mt for 2014 a ramp up has to take place in the second half of 2014. This should support the freight market given the longer sailing distances to Far East. Prices of international ore have been under pressure and should support imports versus domestic Chinese production going forward”.
According to Golden Ocean, “approximately 11 million dwt of new dry bulk capacity was delivered during the second quarter of 2014, compared to 16 million dwt the previous quarter. Scrapping has been fairly stable and four million dwt was removed from the tonnage list last quarter. As a consequence of a softer freight market, ordering of new vessels came down compared to the previous quarter.
Available data is showing that orders for 14 million dwt of new capacity were signed during the second quarter of 2014, half of what was reported during the first quarter of 2014. The present order book represents approximately 19 percent of the existing fleet”.
Meanwhile, according to the owner, “after several quarters of steady rise in asset values, prices corrected down. The Capesizes however were holding better up than the smaller segments and according to sale and purchase brokers modern vessels (maximum 5 years old) were priced three percent lower by the end of June compared to end of March 2014, while Panamaxes and Supramaxes lost between 5 and 10 percent compared to end of March 2014, depending on age and country where built.
The positive development in newbuilding prices seems to have had a halt in the quarter and a minor negative correction has been observed”, it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- The University of Queensland
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
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