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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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- New Zealand Coal & Carbon
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- The University of Queensland
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
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