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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, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
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