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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
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