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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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Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- The University of Queensland
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
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