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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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Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
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- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
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