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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, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
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