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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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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
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