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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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Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
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