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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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Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- The University of Queensland
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
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